A Thai ice cream entrepreneur who built Howells into a once-popular brand is selling the business for about 165 million baht, or more than 50 crore rupees, and plans to retire from commerce altogether — a move that underscores both the difficulties of scaling a niche consumer brand and the increasingly personal way some founders are choosing to exit.
Howells founder sells Thai ice cream brand for 165m baht
Siripong Akarashriuuk, chairman of Howells, said he intends to leave business behind and spend the rest of his life in forest meditation and spiritual practice rather than redeploying the proceeds into another venture. The sale package goes beyond the brand itself and includes land, offices, factories, one Howells outlet, trademarks, specialist know-how and the ice cream recipe, making it a full transfer of operating assets rather than a simple brand transaction.
The timing reflects more than a lifestyle decision. Howells, founded in 1999, once expanded across Thailand, but its store count has steadily shrunk and only one standalone outlet now remains. Siripong said attempts over the past two years to open new locations in shopping malls failed, even as some spaces were left vacant after older tenants moved out. That suggests the business has been squeezed by a retail environment that has become harder for smaller consumer brands to navigate, with mall access, visibility and distribution increasingly controlled by larger, better-capitalized operators.
For investors and buyers, the appeal lies in the assets attached to the deal. A brand with heritage, physical property and proprietary recipes can still carry value even after the retail footprint has faded. The bear case is that the transaction may be a succession sale under pressure, with limited evidence that the brand can regain scale in a crowded food-and-beverage market. Without fresh capital, stronger channel access or a new operating strategy, Howells risks remaining a legacy name rather than a growth asset.
The broader story is one of founder liquidity and retreat from business at a time when many small consumer companies struggle to adapt to changing retail economics. If the sale closes, it will mark the end of a 25-year chapter for Howells and a rare exit in which the seller is choosing spiritual retirement over reinvestment.
| Entity | Gains | Losses |
|---|---|---|
| Siripong Akarashriuuk | ▲Cash exit and retirement | ▼Future business upside |
| Buyer of Howells | ▲Brand, assets, recipes | ▼Turnaround risk |
| Howells legacy brand | ▲Chance of continuity | ▼Founder control |
| Competing ice cream chains | ▲Possible market share | ▼Less if brand revived |
