- Why It Matters: ACC’s strategic divestment from cannabis operations highlights a significant shift in the business landscape, reflecting the evolving priorities in the Thai cannabis market.
- The Big Picture: This move by ACC underscores a broader trend where Thai companies reassess their involvement in the cannabis sector, focusing on core business strengths and long-term stability.
- Driving The News: WICHAI EUASANGSANGKUL, the managing director of ACC, revealed that the decision aligns with the company’s broader strategic goals to strengthen its primary business operations.
BANGKOK, THAILAND – In a strategic pivot that signals changing tides in the Thai cannabis industry, Advance Connection Corporation (ACC) has announced its decision to divest its majority stake in CNC, a subsidiary engaged in cannabis-infused products. This move is part of a broader realignment towards reinforcing its core business segments.
WICHAI EUASANGSANGKUL, managing director of ACC, stated, “This decision was driven by our focus on enhancing the structural and financial robustness of our primary business areas. It reflects our commitment to delivering sustainable value to our stakeholders.” He elaborated that the divestiture involves transferring a 60% stake in CNC to NATTHANON WATCHAROTHAI, marking a significant shift in the company’s portfolio strategy.
This divestment comes at a time when many Thai businesses are reevaluating their cannabis ventures, amidst fluctuating market dynamics and regulatory landscapes. By focusing on its core competencies, ACC aims to secure a more stable and predictable revenue stream, moving away from the volatile cannabis market which has seen varied success since legalization.
The company has directed investors and stakeholders to its main channels for further details on future strategies and market forecasts, ensuring transparency and continued engagement in its new direction.
