Thai Beverage Public Company Limited

Charoen Sirivadhanabhakdi started out supplying Thailand's state-run Thai whiskey distilleries and gained rights to 15 percent of its liquor market.⁶ In 1985 the state opened the other 85 percent of its licences to bids, and he soon won all of the concessions and a monopoly.⁶ In 2001 Pacific Spirits bought Inver House; Inver House's group history calls it an investment for the principal shareholder of TCC, the business group Charoen chairs.^1,3,4 Inver House managing director Graham Stevenson said there would be no direct involvement from Pacific Spirits.^4,7,8

In 2005 protests by Thai Buddhist groups stopped a plan to list ThaiBev on the Thai stock exchange.^2,6 On 30 May 2006 ThaiBev listed in Singapore instead, since Thailand's stock exchange does not allow alcohol stocks.^1,2,9 In October 2006 International Beverage (InterBev), ThaiBev's international arm, bought Pacific Spirits UK, owner of Inver House and its five malt distilleries: Pulteney, Balblair, Knockdhu, Speyburn and Balmenach.^4,7,9 InterBev says Inver House was put into ThaiBev for the listing; Moodie Davitt reported the deal after the May listing.^4,7,9 In 2008 Inver House became the group's Scotch whisky production arm, and its commercial team moved into International Beverage.⁴

In March 2014 Bloomberg, citing unnamed people, reported Thai Beverage among the bidders for Whyte & Mackay, which United Spirits later agreed to sell to Emperador Inc.^10,11 On 12 October 2017 ThaiBev bought 75% of Myanmar Distillery Co, maker of Grand Royal, which ThaiBev called the largest whiskey player in Myanmar.^3,5,12 In 2023 International Beverage bought Cardrona Distillery near Wanaka, New Zealand, and founder Desiree Reid was to stay on as managing director.^3,4,13