TCP Group (Yoovidhya family)
TCP Group is the Yoovidhya family Thai beverage holding company controlling Red Bull / Krating Daeng energy-drink IP rights for Thailand and global markets (jointly with Red Bull GmbH Austria). Also operates a portfolio of emerging beverage brands (Sponsor sport drink, Mansome herbal energy, Puriku coffee). One of Thailand's largest privately held conglomerates by family wealth (Yoovidhya family ranked top-2 Thai billionaires alongside Chearavanonts and Chirathivats). Coordinates with affiliate TC Pharmaceutical Industries on Red Bull production.
Profile overview
TCP Group is the Yoovidhya family Thai beverage holding company controlling Red Bull / Krating Daeng energy-drink IP rights for Thailand and global markets (jointly with Red Bull GmbH Austria). Also operates a portfolio of emerging beverage brands (Sponsor sport drink, Mansome herbal energy, Puriku coffee). One of Thailand's largest privately held conglomerates by family wealth (Yoovidhya family ranked top-2 Thai billionaires alongside Chearavanonts and Chirathivats). Coordinates with affiliate TC Pharmaceutical Industries on Red Bull production.
Brand portfolio
Energy drinks
Red Bull / Krating Daeng
Controls Thai Red Bull and Krating Daeng IP rights. Krating Daeng is the original 1976 formulation still sold in Thailand at $0.29–12 per can. Thai Red Bull (sugar-free, carbonated version) co-owned with Red Bull GmbH Austria and distributed globally.
Sports drinks
Sponsor energy drink
Sponsor is TCP Group's sports-drink brand competing with Carabao (SET:CBG) and B-ing (Osotspa) in Thailand's $347.8M-plus sports and functional-drink segment. Positioned at mass-market price points below Krating Daeng.
Emerging brands
Mansome and Puriku
Mansome herbal energy drink and Puriku ready-to-drink coffee round out TCP's functional-beverage portfolio. Both brands target younger Thai consumers in the convenience-store single-serve segment with price points of $0.435–25.
Peer comparison — Thai major beverage groups
TCP Group (Yoovidhya)
Key brand(s)
Red Bull, Krating Daeng, Sponsor
Ownership
Yoovidhya family (private)
Annual revenue (approx.)
USD 2B-plus (global)
ThaiBev (Charoen Sirivadhanabhakdi)
Key brand(s)
Chang beer, Ruang Khao spirits
Ownership
Charoen family (SET:TBEV)
Annual revenue (approx.)
$7.83B (FY2024)
| Group | Key brand(s) | Ownership | Annual revenue (approx.) |
|---|---|---|---|
| TCP Group (Yoovidhya) | Red Bull, Krating Daeng, Sponsor | Yoovidhya family (private) | USD 2B-plus (global) |
| ThaiBev (Charoen Sirivadhanabhakdi) | Chang beer, Ruang Khao spirits | Charoen family (SET:TBEV) | $7.83B (FY2024) |
| Carabao Group | Carabao energy drink | Yuenyong Opakul (SET:CBG) | $347.8M |
| Osotspa | M-150, B-ing, Shark | Lamsam family (SET:OSP) | $637.7M |
Watchpoints 2025–2026
Global licensing
Red Bull GmbH IP dispute risk
The Yoovidhya family's Red Bull global IP rights are co-held with Red Bull GmbH Austria (Mateschitz heirs). Any succession or governance dispute over global IP allocation could affect TCP Group's licensing revenue structure.
Sugar tax
Thailand excise tax on sugar
Thailand's progressive sugar-beverage excise tax (tiered by sugar content per 100ml) applies to energy drinks. Further excise-rate increases would raise retail prices of Krating Daeng and potentially shift consumer preferences.
Succession
Family governance and succession
The Yoovidhya family spans multiple second-generation heirs following founder Chaleo Yoovidhya's 2012 death. Clear succession and governance arrangements for TCP Group's private holding structure are an ongoing investor and counterparty question.
Related Market profiles
Peers, parents, partners, agencies, and other Beverages actors.
Competitor
TCC Group (Sirivadhanabhakdi)
Private Thai conglomerate controlled by Charoen Sirivadhanabhakdi; anchor shareholder of ThaiBev, AWC, and BJC across beverages, property, and retail.
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Competitor
Boon Rawd Brewery (Bhirombhakdi family)
Thailand's oldest private brewery, founded 1933; producer of Singha and Leo beers, competing with ThaiBev's Chang in a two-player domestic beer duopoly.
Open Market profile →
Competitor
Singha Corporation (Boon Rawd Brewery)
Boon Rawd Brewery's diversified holding arm; owns Singha beer brand, B-ing functional drinks, and extends into food service and property.
Open Market profile →
Sector peer
Boon Rawd Brewery / Singha Corporation
Thailand's oldest brewery; private family-held; Singha, Leo beer, Purra water; ~30-35% Thai beer share.
Open Market profile →
Reports featuring this profile
Related Market profiles
competitor
TCC Group (Sirivadhanabhakdi)
Private Thai conglomerate controlled by Charoen Sirivadhanabhakdi; anchor shareholder of ThaiBev, AWC, and BJC across beverages, property, and retail.
competitor
Boon Rawd Brewery (Bhirombhakdi family)
Thailand's oldest private brewery, founded 1933; producer of Singha and Leo beers, competing with ThaiBev's Chang in a two-player domestic beer duopoly.
competitor
Singha Corporation (Boon Rawd Brewery)
Boon Rawd Brewery's diversified holding arm; owns Singha beer brand, B-ing functional drinks, and extends into food service and property.