Lotte Chilsung Beverage and Lotte Wellfood have signed a memorandum of understanding with CP AXTRA, the retail unit of Thailand’s Charoen Pokphand (CP) Group, to expand their food and beverage businesses in Thailand and Southeast Asia. The partnership will broaden Lotte Chilsung’s export portfolio through customized beverages and bottled water distributed exclusively across CP AXTRA’s nationwide retail network. Lotte Wellfood will develop products with CP AXTRA for Thai consumer preferences. Lotte Chilsung signed the agreement on Nov. 9 and announced it on Nov. 10. The companies described the deal as a foundation for long-term cooperation, while CP Group’s businesses span food production, distribution and telecommunications.