TPG, a global alternative asset firm, has sold its stake in Myanmar Distillery Company Group to Thai Beverage Public Company Limited. MDC is the largest spirits company in Myanmar and is the producer of Grand Royal, the nation’s leading whisky brand.

“We’ve been able to leverage our network of senior advisors – in this case, Paul Walsh and Thura Ko Ko – to drive value at the local level through their deep regional knowledge and global industry expertise. The investment from Thai Beverage, one of Asia’s leading spirits groups, is a testament to MDC’s extensive platform and strong management team. We wish them continued success as they secure further opportunities with their new partners,” says Ganen Sarvananthan, partner at TPG.

MDC marks TPG’s second investment in Myanmar, following the firm’s investment in Apollo Towers in 2014. Since then, Apollo has received additional support, including a long-term financing facility from the Overseas Private Investment Corporation (OPIC) in 2016. The firm’s other investments in Southeast Asia have included 8990, BFI Finance, Property Guru, and Vietnam Australia International School.

The Grand Royal brand employs more than 2,500 staff and has a network reaching 1,300 wholesalers and over 20,000 retailers. Founded in 1995, MDC produces and sells a broad range of spirits including whisky and gin. It operates two distilling, blending, and bottling facilities in Yangon and Mandalay.

Photo: grandroyal-group.com