BANGKOK -- Saha Group, Thailand's instant noodle heavyweight, is spending 400 million baht ($12 million) to modernize its food business in a bid to boost sales and beat back encroachment from foreign competitors.
On Monday, Saha consolidated Thai President Foods, the subsidiary behind the internationally recognized Mama brand of instant noodles, with President Rice Products, the rice soup and rice noodles unit. The new entity, capitalized at 329.7 million baht, retains the name Thai President Foods.
