Tractus M&A Partners Advises Rohto Pharmaceutical on Successful Closing of THANN Oryza Acquisition

 

[Bangkok, Thailand, 29 May 2026] – Tractus, through its corporate finance arm, Tractus M&A Partners, today announced the successful completion of its engagement as exclusive financial advisor to Rohto Pharmaceutical Co., Ltd. (Code: 4527) on its acquisition of a 51% stake in Thann Oryza Co., Ltd. (“THANN”), one of Thailand’s most recognized natural skincare and wellness brands.

The transaction has now closed, following the signing of the share purchase agreement in Osaka, Japan on 7 January 2026. Rohto engaged Tractus M&A Partners to identify and evaluate acquisition opportunities in Thailand aligned with its product portfolio and growth strategy. Drawing on its deep, on-the-ground knowledge of the Thai market, Tractus conducted a rigorous screening of more than 500 companies across the country’s healthcare, pharmaceutical, cosmetics, and wellness industries before identifying THANN as the ideal partner on the basis of financial strength, complementary product portfolios, and cultural alignment.

After securing mutual interest, Tractus M&A Partners led the end-to-end transaction management process — coordinating valuation, due diligence, negotiations, deal structuring, and closing documentation — culminating in the completion of the share acquisition in Bangkok, Thailand. The transaction adds to Tractus’ track record of guiding international acquirers through complex, cross-border deals in Thailand and across Asia.

“This transaction reflects the kind of cross-border value we are built to create,” said John Evans, Managing Director at Tractus. “Our role was to align Rohto’s strategy with the right target and then steer the deal to a successful close through rigorous financial analysis and genuine cultural fluency. We are proud to have guided this transaction from initial screening to completion.”

The partnership sees THANN join the Rohto-Mentholatum portfolio, bringing more than 160 natural botanical skin and hair care products that combine traditional natural healing methods with modern skincare science. THANN products are currently available through over 70 retail locations and The partnership with Rohto-Mentholatum will see THANN’s presence deepen in existing markets, expand into new ones, and continue to develop products that define modern wellness.

Rohto’s EVP & CFO, Mr. Masaya Saito, remarked: “I am pleased to announce the successful completion of Rohto Pharmaceutical’s acquisition of a 51% stake in THANN. While closing marks the conclusion of the transaction, it is also the beginning of a long-term partnership, one through which we will integrate THANN’s products into the Rohto-Mentholatum portfolio and expand the brand across Asia and around the world. We are delighted to embark on this journey alongside THANN and its founder, Mr. Thitipat Suppattranont, and we look forward to creating lasting value together.”

Under the terms of the transaction, Rohto will nominate three directors to THANN to work alongside Mr. Thitipat Suppattranont, THANN’s Founder and Managing Director, in shaping its future strategy. Financial terms of the transaction were not disclosed.

“I am excited by the opportunities we will create through this partnership,” said Mr. Thitipat Suppattranont. “From our earliest discussions, I knew Rohto was the ideal partner for entering into a joint-venture partnership to continue THANN’s growth across Asia and globally.”

Advisors

Tractus M&A Partners acted as exclusive financial advisor to Rohto Pharmaceutical on the transaction. Kudun and Partners Legal counsel to Rohto, Kriengsak Lao-Arpasuwong Advisor to THANN, and BDO Tax and Financial due-diligence advisors also supported the parties.

Tractus Deal Team

John Evans, Founder and Managing Director
Shinichiro Kawazoe, Chief Representative Tractus Japan
James Meisenheimer, Consulting Manager (Thailand)
Yada Saraneeyatham, Consultant (Thailand)
Pei Wen Ng, Consultant (Singapore)

About Tractus

Tractus is a Pan-Asian business advisory firm that helps companies enter, operate, and grow across the region. With 30+ years of experience and 15 offices across Asia and the U.S., the firm works across site selection, market entry, corporate finance and economic development. Through its corporate finance arm, Tractus M&A Partners, it provides buy-side and sell-side advisory, target identification, end-to-end transaction management, and post-merger integration support for clients pursuing cross-border growth in Asia.

 

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Sarah Gorecki
Marketing Coordinator
Sarah.gorecki@tractus-asia.com