Osotspa Partners with Yanhee to Build New Business Opportunity, Ready to Enter the Cannabis-Based and Hemp-Based Beverage Market

Osotspa Public Company Limited partners with Yanhee Vitamin Water Company Limited to enter the cannabis-based and hemp-based beverage market, building a new business opportunity and expanding to the new market with strong growth potential, with a plan to launch a new product in the middle of 2022.

Mrs. Wannipa Bhakdibutr, Chief Executive Officer of Osotspa Public Company Limited or OSP, a leading Thailand-based consumer product manufacturer and distributor, revealed that Osotspa has jointly invested with Yanhee Vitamin Water Co., Ltd. to establish Osotspa Yanhee Beverage Company Limited, a new company in Thailand. This new company will research, develop, and conduct marketing for beverage products, which compose use, or consist of cannabis, or hemp, or cannabis/hemp extraction. Osotspa holds 55% of shares through Osotspa Enterprise Company Limited (Osotspa’s wholly-owned subsidiary), while Yanhee holds 45% of shares.

One of the key strategies of Osotspa is to develop herbal products to meet the health and wellness trend. This also helps support farmers, increase their revenue, as well as stimulate the local and national economy, following the sustainability targets of Osotspa. After the government has removed cannabis and hemp from the country's narcotics list and legalized commercial growing in the country, Osotspa has carefully conducted research and studies about these crops and their benefits. The study shows the strong growth potential of businesses related to cannabis and hemp. However, to effectively take the health benefits of cannabis and hemp, the Company has been preparing partnerships with an alley that is an expert in health and wellness to develop new products that meet the demand of the consumers. Seeing that Yanhee has a medical background, experience in cannabis medical treatments, and is among the first producers of vitamin water in the country, the Company believes that it is potent in developing cannabis-based and hemp-based beverages and decides to set up this collaboration.

“The collaboration between Osotspa and Yanhee allows the two companies to use their strengths to build the new business together. This new business will serve the new consumer demands, especially those related to health and wellness, through developing new products that provide the utmost benefits of cannabis and hemp and are distinguished from others in the market. It will also help create a business expansion to the market with strong growth potential," said Mrs. Wannipa.