Tractus M&A Partners advises Rohto Pharmaceutical on acquisition of Thailand wellness brand THANN

[Bangkok, Thailand, 8 January 2026] – Tractus is pleased to announce that its corporate finance arm – Tractus M&A Partners – served as exclusive advisor to Rohto Pharmaceutical Co., Ltd. in the company’s acquisition of a 51% stake in Thann Oryza Co., Ltd., a Thailand-based wellness and spa company.

Rohto Pharmaceutical engaged Tractus in October 2024 to identify and evaluate potential acquisition targets in Thailand that aligned with the company’s strategic expansion into the wellness sector. Over four months, Tractus conducted a comprehensive search across Thailand’s healthcare, pharmaceutical, wellness, and cosmetics sectors, screening more than 500 companies before identifying THANN as the optimal fit based on financial performance, product portfolio alignment, and compatible business culture.

“Tractus’ deep understanding of the Thai market and methodical approach to target identification proved invaluable in this acquisition,” said Rohto’s Mr. Masaya Saito EVP & CFO. “Their team’s ability to assess both financial metrics and cultural fit helped us identify THANN as a partner that shares our commitment to wellness and quality. We look forward to building on THANN’s strong foundation in Asia as we work together to expand the brand globally.”

Following the initial identification phase, Tractus managed the transaction process and facilitated negotiations between parties. The firm also coordinated a complex due diligence process to evaluate THANN’s financial and accounting practices and align them with Rohto Pharmaceutical’s standards. This thorough assessment provided Rohto Pharmaceutical with confidence that acquiring THANN was the right strategic decision.

Mr. Kunio Yamada, Chairman and Representative Director of Rohto Pharmaceutical (left), and Mr. Thitipat Suppattranont, Founder of THANN (right) shake hands upon successful signing of the share purchase agreement on January 7, 2026 in Osaka, Japan.

The share purchase agreement was signed on January 7, 2026 at Rohto Pharmaceutical’s headquarters in Osaka, Japan. The transaction is expected to close in March, 2026.

Founded in 2003, THANN has established itself as a premium natural skincare and lifestyle brand with operations spanning 14 countries. The company operates retail stores across Thailand, China, Hong Kong, Japan, and Mongolia, alongside 16 spa facilities throughout the region and a wellness destination in Ayutthaya, Thailand.

Mr. Thitipat Suppattranont the Founder and Managing Director of THAAN commented, “Tractus’ approach throughout the process was professional, balanced, and constructive toward all parties involved. Tractus focused on establishing a joint venture framework grounded in strategic synergy, alignment of corporate culture, and mutual respect between the parties. This approach was particularly important in facilitating constructive discussions and building confidence during a complex cross-border transaction involving Rohto and THANN. They managed the process with discipline, transparency, and efficiency, while maintaining a respectful and collaborative negotiation environment. Tractus’ thoughtful execution contributed significantly to both a smooth closing and setting a strong foundation for the partnership going forward.

John Evans, Managing Director at Tractus, noted the broader significance of the transaction: “Multinational companies are in an active acquisition phase, with Thailand and the wider Asia-Pacific region as key geographies for targets. Thai companies that manufacture innovative products, utilize natural ingredients, and are positioned for export growth are exactly what these multinationals are seeking. THANN, as a leader in Thailand’s aromatherapy and wellness space, exemplifies this profile with its strong brand identity, quality products, proven operational excellence, and significant growth potential. We’re excited about the opportunities this partnership creates for future expansion.”

The transaction underscores Thailand’s emergence as a source of innovative, privately owned businesses attractive to global acquirers. Tractus M&A Partners specializes in identifying such opportunities and facilitating cross-border partnerships that enable Thai companies to scale internationally while preserving their unique brand identities.

About Tractus
Tractus is a Pan-Asian business strategy advisory firm helping companies to decide where to invest, how to enter new markets, and how to grow effectively. With 30+ years of experience and 15 offices across Asia and the U.S., they deliver strategic guidance in site selection, corporate finance, market entry, and economic development. Tractus acts as a pivotal link between businesses seeking expansion and the opportunities available.

About Rohto Pharmaceutical Co., Ltd.
Rohto Pharmaceutical Co., Ltd. is a Japanese pharmaceutical and cosmetics company listed on the Tokyo Prime Market (Code: 4527). Under its Comprehensive Management Vision 2030, the company focuses on over-the-counter pharmaceuticals, skincare, and food as core business domains, pursuing global value creation with a corporate purpose of guiding society toward enhanced well-being. For more information on the acquisition, visit https://www.rohto.co.jp/global/

About Thann Oryza Co., Ltd.
Founded in 2003 in Bangkok, THANN is a natural skincare and lifestyle brand known for products developed using plant-derived ingredients and aromatherapy expertise. The company operates retail locations and spa facilities across Asia and distributes products to 14 countries worldwide. For more information, visit www.thann.info.

For media inquiries or further information, please contact:
Sarah Gorecki
Marketing Coordinator
Sarah.gorecki@tractus-asia.com