Monkhood-Bound Siripong Akkarasriyuk Sells Hawell's Ice Cream for B165m
Thai ice cream brand Hawell's is on the market for 165 million baht as its founder, Siripong Akkarasriyuk, prepares to enter monkhood. The sale includes all assets and a detailed expansion blueprint.
Hawell's on the Block
Siripong Akkarasriyuk, chairman of Hawell's (Thailand) Co Ltd, is selling the Thai ice cream brand for 165 million baht. He announced the sale on Facebook, driven by a long-held intention to enter monkhood. Mr Siripong plans to renounce worldly life within two years, a decision he has prepared for over 15 years.
This timeline includes establishing a forest retreat for meditation before his ordination. A 5 million baht referral fee is offered to anyone who finds a suitable successor.
Assets and IP Included
The 165 million baht transaction includes significant assets. These comprise seven rai of land in Bang Bua Thong. An office building and factory, equipped with machinery and licences, are included. The sale also transfers an operational Hawell's Ice Cream & Fast Food shop and the brand's trademark.
Crucially, the deal encompasses all accumulated know-how from 37 years of operation. This includes every ice cream recipe, covering both soft-serve and hard ice cream varieties.
Brand History and Future Vision
Hawell's launched in 1999, quickly expanding to 22 branches within three years. The brand gained recognition for its quality and competitive pricing in the early 2000s. Its presence declined as larger rivals secured exclusive mall agreements, forcing most outlets to close by 2014. A standalone branch in Bang Bua Thong, Nonthaburi, reopened in 2023 and still operates.
Mr Siripong developed a new expansion plan for the brand. This plan targets annual sales of 8.8 billion baht. It envisions 300 nationwide soft-serve shops, 100 hard ice cream shops. It also includes 5,000 automatic cup dispensers. The founder believes this ambitious plan requires a new owner for execution.
This sale presents a unique opportunity for an investor in Thailand's consumer-retail sector. Acquiring Hawell's offers a heritage brand with established recognition and a detailed growth strategy. A new owner could leverage the existing assets and recipes to revitalise the brand. Success would hinge on navigating the competitive landscape, particularly securing retail space.
This acquisition demonstrates the potential for local brands to achieve scale against larger rivals in Southeast Asia's dynamic food and beverage market.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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