Company’s History

Bangkok Ranch (BR) was established in 1984 and listed on the Stock Exchange of Thailand (SET) in 1992. After a period of financial difficulty during which the Company was restructured, BR re-entered the SET in December 2005.

BR raises ducks to produce fresh and frozen products for the domestic market and cooked duck meat products for export. Over the years, BR has become a leading international duck meat products supplier offering a wide range of products.

Using modern technology with world-class hygiene and quality control standards, BR’s operations are fully-integrated from company-owned parent stock farms and hatcheries to dedicated third-party contract farms, and then, processing into many types of chilled and frozen duck meat, as well as raw and cooked parts, whole birds and feathers.

Responding to the 2004 Avian Influenza (AI) outbreak in Thailand, BR invested in expanding its cooking and processing facilities and further upgrading its hygiene standards, earning BR the position of a major player in the European market for cooked duck, roast duck in particular.

BR increasingly focuses its product development efforts on ready-to-cook and ready-to-eat specialty duck products prepared with popular tasty recipes and attractive, convenient packaging for supermarkets in Europe.

Company Profile

Bangkok Ranch (BR) was established in 1984 as an integrated duck meat producer, a pioneer in Thailand’s industrial duck meat processing. It was listed on the Stock Exchange of Thailand (SET) in 1993. Hit by the 1997 devaluation of the baht, it filed for debt restructuring with the Central Bankruptcy Court in 1999. In 2000, Navis Asia Fund became the major shareholder. BR then acquired Duck-To Holding B.V., the largest duck meat producer in the Netherlands, in 2007 and Cherry Valley Farms, a duck genetic company in the UK, in 2010. It voluntarily delisted from the SET in 2009. Then in December 2012, the company’s founders reemerged, executing a leveraged buyout from Navis Asia Fund. Cherry Valley Farms was then carved out of the group. In 2013, the company acquired Lucky Duck, a cooked (duck, swine, and broiler) meat producer in the Netherlands. It also amalgamated related companies in a group restructure preparatory to listing on the SET.

Figure 1: BR’s major developments

Pioneering the Thai duck meat business by founders
  • 1984: BR was established
  • 1993: Listed in the SET
  • 1999: Filed debt restructuring to Central bankruptcy court from THB devaluation in 1997
  • 2000: Central bankruptcy court approved restructuring plan
Managing through the private equity
  • 2000: Navis Fund became marjor shareholder of BR
  • 2007: Acquired Duck-To Holding B.V. in the Netherlands
  • 2009: Voluntary delisted from the SET
  • 2010: Acquired Cherry Valley Farms (duck genetic company) in the UK
Re-entering of the founders
  • 2012: Executed leveraged buyout by the founders. Cherry Valley Farms was carved out from the group.
  • 2013: Acquired Lucky Duck in Netherlands, and amalgamated related companies to restructure the group for listing on the SET
  • 2014: Planned IPO

Business structure

BR is an integrated duck meat producer with production bases in both Thailand and the Netherlands. It is involved in upstream (feed, parent stock farm, hatchery, commercial and contract farms) and downstream (slaughterhouse, food processing plants, and slaughterhouse inspection service) businesses. It also operates regional headquarters for companies that facilitate exports and trading services.

Figure 2: BR’s group structure

BR’s group structure