Srithai Daily Foods, a Thailand-based maker of sauces and seasonings, has received an undisclosed investment from private-equity firm Navis Capital Partners.
Located in Bangkok and with a production facility in the central Thailand province of Samut Prakarn, Srithai Daily Foods supplies retailers and foodservice channels with “end-to-end food condiments”, and also produces snacks.
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The company’s products are in “high demand” from the foodservice industry in Southeast Asia and China, where the domestic “agri-economy is high cost and suffers from food-supply chain integrity issues”, according to Asia-based Navis Capital, which has offices across the region. Thailand, meanwhile, is a low-cost producer.
Srithai Daily Foods has also expanded into food-solution products such as flavoured tea powders and ready-to-cook sauces to restaurants and beverage chains.
David Ireland, a senior partner at Navis Capital, said: “We are impressed by the development of the company and its ability to continually develop new products that help customers to adapt to the rapid changes in consumer behaviour and new industry trends. There are many potential opportunities for the company to expand further in Thailand and the Asia-Pacific region.”
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