Ice cream tycoon Dr Siripong Akrasriyuk is selling Hawell’s for ฿165 million before walking away from business, public life and his family. The deal includes all its land, a factory, machinery and 100-plus flavours, with a ฿5 million finder’s reward.
A celebrated Thai ice cream empire is on sale for ฿165 million as its owner prepares to abandon business, family life and society for a forest monastery. Dr Siripong Akrasriyuk is offering Hawell’s land, factory, trademark, 37 years of expertise and over 100 flavours, alongside a ฿5 million referral reward. The businessman has imposed a two-year deadline before ordination and complete isolation, following decades of Buddhist study and reported visions of heaven and hell. Meanwhile, his ambitious expansion plan projects ฿8.79 billion in annual sales and a future valuation exceeding ฿10 billion.
The owner of Hawell’s Ice Cream is selling his entire business for ฿165 million before abandoning commercial life. Dr Siripong Akrasriyuk plans to become a monk and live alone inside a forest retreat. He has given himself two years to complete the sale and prepare for ordination. Afterwards, he hopes intensive Buddhist practice will help him attain enlightenment.
Dr Siripong announced the decision through the company’s Facebook page on August 21, 2026. The sale includes land, buildings, machinery, licences, trademarks and every ice cream formula. Moreover, the buyer would receive all operational knowledge accumulated over 37 years. A successful introduction could also earn the referrer ฿5 million.
“Announcement: Seeking a successor to the Havells Ice Cream business. A referral fee of 5 million baht will be offered.”
Hawell’s seeks a new owner after mall expansion stalls and its founder prepares for forest ordination
Hawell’s has traded for more than 30 years and developed over 100 ice cream flavours. However, its owner now faces a rigid personal deadline after planning his ordination for 15 years. His wives and children have already prepared for his departure from family life. Consequently, he wants a capable successor to preserve and expand the business.
Dr Siripong also apologised because Hawell’s could not open branches near many loyal customers. During the past two years, the company repeatedly approached shopping centres for suitable premises. Yet mall operators consistently said they had no space for Hawell’s. He questioned those refusals because numerous units appeared empty after previous tenants departed.
Nevertheless, every approach produced the same response. As a result, Hawell’s remained unable to expand through major shopping centres. Dr Siripong said the company had made serious attempts to secure those locations. Still, customers outside its existing areas remained unable to buy the products conveniently.
The company examined standalone outlets as another route. However, opening independent restaurants would require substantial investment. Hawell’s also considered developing a network of smaller franchises. Ultimately, Dr Siripong concluded that this model could create serious operational problems.
Founder’s two-year deadline forces Hawell’s sale with land, factory and complete recipes included
In particular, poorly managed outlets could damage product quality and customer confidence. Such damage could become impossible to reverse, he warned. Meanwhile, franchises would require careful monitoring during their early development. His approaching ordination left insufficient time for that work.
Time therefore became the decisive factor behind the sale. Dr Siripong said his family had only two years remaining under its present arrangements. He considered that period insufficient for nationwide expansion. International development would require even longer.
Accordingly, he wants someone with capital, credit and enthusiasm to take control. The buyer would inherit a complete production operation and established brand. In addition, the package includes property that could support further borrowing. Dr Siripong believes those assets could finance rapid expansion.
The largest asset is a seven-rai plot in Bang Bua Thong. He valued the land at ฿100 million. Separately, the sale includes the company’s office building and ice cream factory. It also covers the machinery and existing factory licence.
Dr Siripong valued those factory assets at ฿40 million. Hawell’s Ice Cream and Fast Food was assigned another ฿6 million. On top of this, the buyer would receive the registered Hawell’s trademark. Every soft-serve and hard ice cream formula would also transfer.
Buyer gets 37 years of expertise as Hawell’s outlines nationwide expansion backed by valuable assets
The package contains all business knowledge accumulated during 37 years. It also contains more than 100 flavours developed for the hard ice cream range. Altogether, Dr Siripong placed the transaction’s value at ฿165 million. He insisted that the price contained no added profit margin.
Dr Siripong also believes the property would provide powerful security for bank financing. According to him, the land and buildings could support borrowing exceeding ฿200 million. Therefore, a creditworthy buyer might need relatively little additional personal capital. However, any loan would remain subject to a bank’s assessment and approval.
Beyond the property, the purchaser would receive an aggressive expansion blueprint. The plan covers soft-serve shops, hard ice cream branches and automatic dispensing machines. Combined projected annual sales reach ฿8.79 billion. These forecasts came directly from Dr Siripong’s announcement.
Under the first programme, Hawell’s would open 300 soft-serve shops nationwide. Dr Siripong projected annual sales of ฿2.88 billion from those outlets. In turn, that network would establish the brand throughout Thailand. Mall locations would play a central role in its development.
Hawell’s targets ฿8.79 billion sales through hard ice cream shops, dispensers and premium products
The second programme calls for 100 hard ice cream shops. These stores were projected to generate ฿2.4 billion annually. At the same time, the buyer would inherit over 100 prepared flavours. That catalogue could support rapid store openings without lengthy product development.
The third programme involves 5,000 automatic ice cream cup dispensers. Dr Siripong projected annual sales of ฿3.51 billion from the machines. His calculation assumes each site sells 30 cups every day. Each cup would cost ฿65.
Taken together, the three operations could generate annual sales of ฿8.79 billion. Dr Siripong further believes Hawell’s could enter the stock market after three years. Thereafter, he projected a company valuation exceeding ฿10 billion. The announcement contained no independent financial assessment of those figures.
Even so, Dr Siripong expressed complete confidence in the products. He described Hawell’s soft-serve ice cream as exceptionally rich and creamy. In his assessment, rival products could not match its taste. Consequently, every well-positioned branch could attract growing numbers of loyal customers.
Taste would ultimately decide the commercial contest, he argued. Once customers found better ice cream, they would resist returning to weaker products. For that reason, securing shopping-centre locations remained crucial. Prominent branches would place Hawell’s directly beside international competitors.
New hard ice cream formula and lower prices anchor Hawell’s challenge to established global brands
The company has also created a new formula for hard ice cream. Dr Siripong described the product as dense, smooth, chewy and soft. Notably, he said it contained minimal air bubbles. That structure was intended to create a heavier and more concentrated product.
Dr Siripong compared its quality with Häagen-Dazs. By contrast, he said Hawell’s could charge less than Swensen’s. Premium taste and lower prices would form the main competitive offer. Furthermore, the extensive flavour range would provide immediate variety.
Hawell’s would also avoid several expenses facing international franchise operators. It owns its name, formulas, production processes and retail concepts. Hence, the company would not pay franchise charges to an overseas brand. Nor would it depend entirely upon costly imported ingredients.
Dr Siripong said this structure made domestic production highly competitive. Equally, the company’s history would reduce the burden of establishing market recognition. Customers have trusted Hawell’s quality for over 25 years, he said. The media has also followed its progress closely.
Established Hawell’s brand offers overseas potential as strict referral terms govern the ฿165 million sale
Thus, the buyer would not acquire an unknown start-up. Instead, the transaction would deliver an established name with proven products and customer recognition. Dr Siripong believes Hawell’s can reclaim a leading position in Thailand. Global expansion could then follow domestic success.
Thailand already hosts the world’s leading ice cream brands, he noted. In effect, domestic victory would test Hawell’s against major international competitors. Dr Siripong believes success in Thailand would demonstrate its wider potential. The successor could then push the brand into foreign markets.
All commercial details will appear in a separate project plan. Prospective purchasers must study and understand that document before negotiations begin. Accordingly, advisers need not repeatedly request general information. The company supplied a Line contact for obtaining the plan.
The referral payment also carries strict conditions. Only the named referrer for each prospective buyer may claim the reward. This rule is intended to prevent duplicate claims. Naturally, the introduction must produce a completed transaction.
A ฿165 million sale would generate the advertised ฿5 million payment. Alternatively, another final price would produce a three per cent referral reward. The percentage would apply regardless of the transaction’s size. Talks would begin only after the candidate had studied the plan.
Dr Siripong turns from commerce towards Buddhism after beginning his search for wealth and religious proof
Dr Siripong appealed directly to loyal customers for introductions. He said nobody understood Hawell’s products better than its longstanding buyers. After all, many had followed the brand and enjoyed its ice cream for decades. He wants their help finding someone capable of carrying it forward.
The announcement then shifted sharply from commerce to religion. Dr Siripong explained why the two-year deadline now controlled his decisions. His account began in 1992, when he held one dominant ambition. He wanted to become rich.
At that stage, nobody could provide what he considered a reliable formula for wealth. In response, Dr Siripong began studying different religions. Initially, he wanted to prove God’s existence and communicate directly with God. Such proof would persuade him to follow every related teaching.
He could not obtain that proof quickly. Subsequently, he put the search aside and examined Buddhism. At first, Buddhism held little attraction for him. Indeed, Dr Siripong called it the religion he liked least.
His parents and grandparents were Buddhists. Nonetheless, he saw no evidence that their religion could make him wealthy. Besides, the Buddha had died centuries earlier. Dr Siripong questioned how anyone could prove his teachings personally.
Maha Moggallana account drives Dr Siripong’s search for a monk and personal proof of heaven and hell
A scriptural account concerning Maha Moggallana then changed his direction. The story described the disciple requesting permission to visit heaven and hell. Crucially, Maha Moggallana was still alive during that reported journey. This detail produced a question that Dr Siripong could not dismiss.
If Maha Moggallana could make that journey, Dr Siripong believed he might also succeed. He therefore decided to seek proof through his own meditation. Soon afterwards, he travelled through several provinces in central Thailand. He searched for a monk who understood the required practices.
Several months passed without success. Then, a neighbour said his teacher could guide Dr Siripong towards heaven and hell. Dr Siripong wanted to visit the monk immediately. However, the neighbour replied: “…I have to take time off work first. We’ll go tomorrow.”
The pair travelled to the temple the following day. Upon arrival, Dr Siripong began meditating under the monk’s instruction. During that first session, he reported seeing brilliant and detailed images. His eyes remained closed, yet the images appeared as clearly as waking scenes.
Among them, Dr Siripong saw a child inside its mother’s womb. He also reported beautiful underwater scenes and several other images. For him, those experiences suggested that the meditation method might work. Even then, his primary objective remained unchanged.
Meditation teacher orders Dr Siripong to endure severe pain and accept death before leaving his body
He wanted to see heaven and hell himself. His teacher subsequently outlined a demanding programme requiring prolonged meditation. Dr Siripong was instructed to remain completely still during severe physical pain. He should endure until the suffering disappeared naturally.
Afterwards, the teacher said, he would face another barrier. That barrier involved accepting death without abandoning his concentration. Dr Siripong quoted the monk’s instructions at length:
“If Siripong wants to reach that point, he must practice meditation seriously. When pain and suffering occur, he must endure it without moving, enduring until the pain subsides on its own. And when Siripong can endure it every time, there will be one more hurdle: death. This is something few people can do, because death is terrifying and frightening; it’s difficult for normal people to accept death. But if Siripong can accept death, he will be able to leave his body, fly through the air, and know that the afterlife truly exists.”
Dr Siripong remained at the temple for about seven days. Afterwards, he continued meditating twice daily at home. Individual sessions frequently lasted more than two hours. Overall, the programme continued for about two months and 20 days.
Many sessions brought extreme pain and distress, he said. Sometimes, Dr Siripong believed he was about to die. Eventually, he experienced what felt like a giant python crushing his body. He said the sensation left him unable to breathe.
Dr Siripong reports leaving his body, seeing heaven and beginning an intensive study of the Tripitaka
The ordeal continued for a prolonged period. On the first occasion, fear forced him to abandon his concentration. During the second attempt, concerns about his family stopped him. He feared his wife and children would face hardship without him.
The third occasion produced a different response. This time, Dr Siripong resolved to maintain concentration regardless of the outcome. He accepted what he believed could be death. What followed became the defining experience behind his religious commitment.
Dr Siripong reported suddenly finding himself standing outside his body. The experience produced intense happiness and goosebumps. He then remembered his teacher’s instruction to attempt flying first. Accordingly, he thought, “fly,” and felt himself rise at tremendous speed.
From then on, similar experiences occurred during many meditation sessions, he said. Eventually, he became familiar with what he described as leaving his body. Before each departure, however, he believed he experienced death. Yet he still had not seen heaven or hell.
His teacher then advised him to pray before every meditation session. Two or three months later, Dr Siripong reported seeing heaven. He said that experience finally resolved his religious doubts. These accounts represent his personal religious testimony.
Earlier, Dr Siripong had made himself a promise. If he proved heaven and hell existed, he would follow all the Buddha’s teachings. Consequently, he ordered the complete 91-volume Tripitaka. He then studied its teachings on wealth, generosity and merit.
Buddhist beliefs shape Hawell’s rapid growth as Dr Siripong becomes a bestselling author and lecturer
In particular, he examined what he considered the correct practice of charitable giving. Dr Siripong concluded that small, properly directed donations could produce enormous results. Conversely, large donations could bring limited returns without religious understanding. These beliefs then influenced his conduct and business life.
Dr Siripong also studied the Five Precepts and the Uposatha Precepts. Alongside this, meditation became a permanent part of his routine. He then launched Hawell’s and developed the business quickly. Within two years, the company had opened 22 branches.
Customers and media organisations gave the growing brand strong support. Soon, Dr Siripong appeared on the television programme “Fight and Get Rich.” Other television and radio programmes also featured him. Financial institutions supported further expansion.
At one point, lenders prepared an additional ฿100 million facility, according to Dr Siripong. That money was intended to finance further growth. Meanwhile, his public profile continued expanding beyond the ice cream business. Religious teaching became increasingly important.
Dr Siripong later wrote “Success That Comes from the Buddha.” The book entered the five bestselling titles at numerous shops, he said. It was reprinted 44 times and sold hundreds of thousands of copies. Demand for public lectures followed.
Dr Siripong moves from business and innovation towards ordination and his ultimate goal of enlightenment
Whenever 1,000 people registered, Dr Siripong organised an event. Over time, he delivered hundreds of Dharma talks. His final major lecture took place at Thammasat University’s Tha Phra Chan campus. The venue had space for approximately 3,000 people.
Gradually, Dr Siripong moved from businessman to Dharma lecturer and teacher. As part of this, he established a foundation to distribute Buddhist teachings. His religious work increasingly occupied his time. However, he also pursued a separate industrial project.
On another front, Dr Siripong developed a process for converting plastic into diesel fuel. He said the resulting product met Ministry of Energy quality standards. The National Innovation Agency also recognised the project as an innovation. Nevertheless, his religious priorities continued to deepen.
After decades studying Buddhism, his original hunger for wealth disappeared, he said. In its place came a desire to accumulate merit and attain enlightenment. Initially, he sought to become a Sotapanna, or stream-enterer. That represents the first recognised stage of enlightenment in Buddhism.
Ultimately, Dr Siripong wants to become an Arahant. He also said his reported experience of hell permanently changed his priorities. Again, that account forms part of his personal religious testimony. Material success no longer represents his final objective.
Forest retreat to sever family contact as Dr Siripong pursues enlightenment through isolation
Even becoming a billionaire or king would not satisfy him, Dr Siripong said. Likewise, rebirth as a celestial being would not fulfil his ambition. Instead, he wants complete enlightenment during this lifetime. For 15 years, he has prepared for ordination.
His wives and children have also prepared for the coming separation. Beforehand, Dr Siripong must find suitable land for a forest meditation retreat. That task must be completed within two years. Once ordained, he plans to live there in complete solitude.
Dr Siripong will not contact, meet or speak with his family. Similarly, he will not communicate with ordinary visitors. Only his mentor monk will remain exempt from that restriction. One disciple may also deliver food offerings.
Even then, Dr Siripong will require no conversation or explanations. He views ordination as a complete separation from worldly life. Each family member will thereafter follow a separate path. He plans to devote himself entirely to meditation and Dharma practice.
Dr Siripong said he might eventually return to society. However, that would happen only after achieving his ultimate religious objective. If he became an Arahant, he would guide his wives, children, relatives and disciples. Until then, he plans isolation.
Family’s 25-year Buddhist routine shapes his wives and daughter as ordination deadline moves closer
His family has already followed a structured Buddhist routine for approximately 25 years. On weekdays, family members observe the Five Precepts. On every Buddhist holy day, they observe the Uposatha Precepts. Religious practice therefore already shapes their domestic life.
Dr Siripong identified his first wife as Khun Thad. According to him, childcare restricted her opportunities for more advanced practice. His second wife, Khun Noi, pursued religious development more intensively. She frequently accompanied him while he delivered Dharma lectures.
Through those journeys, Khun Noi repeatedly heard the teachings and developed her understanding. Dr Siripong said she shares his desire for spiritual progress. His announcement also devoted substantial attention to his only daughter, Lukput. He described her as a “Buddhist daughter.”
For Dr Siripong, this represented his greatest source of pride. He said Lukput had followed strict moral rules throughout her life. She had never killed an animal, stolen, committed adultery or deliberately lied, he claimed. Moreover, she had never consumed alcohol.
Dr Siripong also praised his daughter’s speech and conduct. He said she avoided foul language, slander, malicious remarks and meaningless talk. From childhood, Lukput observed Uposatha Precepts on Buddhist holy days. Her upbringing, he said, placed morality at the centre of family life.
Lukput leaves commercial ambition behind as the family turns towards meditation and Buddhist study
Lukput later graduated from Chulalongkorn University’s Faculty of Political Science. After graduation, she joined Hawell’s restaurant at Lampho in Bang Bua Thong. She began working as an ordinary employee. Later, the company promoted her to assistant manager.
Lukput now manages the branch. However, her father said commercial advancement was no longer her main objective. After hearing deeper Dharma teachings, she asked: “So, we should try to attain enlightenment in this lifetime, shouldn’t we, Father?” Dr Siripong replied: “Yes, my child.”
He told her that missing the opportunity could mean beginning again. In his belief, that process might take hundreds of billions of aeons. Therefore, Dr Siripong has outlined a different future for his family. Commercial work and accumulating wealth will become secondary concerns.
Instead, the family will concentrate upon generosity, moral conduct and daily meditation. They will also study the Tripitaka and Dharma teachings intensively. Starting with smaller commitments, they plan gradually to deepen their religious practice. Every available moment will be directed towards that goal.
For Dr Siripong, human life offers a rare opportunity for intensive Buddhist practice. He does not want his family to waste it. Material possessions, money, fame and power cannot accompany anyone beyond death, he said. That belief now controls his timetable for selling Hawell’s.
Two-year deadline drives Hawell’s transfer as Dr Siripong prepares to leave business and family life
The family therefore has approximately two years remaining under its present business arrangements. During that period, Dr Siripong must transfer the company and create his retreat. His wives and children must also prepare for separate lives. The sale forms the commercial centre of that timetable.
Hawell’s must pass to someone capable of protecting and expanding it. Dr Siripong wants customers to continue enjoying the ice cream after his departure. He also wants its recipes and products preserved. Decades of family work are tied to the brand.
“Hawell’s is not just a business I built; it’s a part of my life and my family’s. It’s something that our customers have loved and supported for a long time. Even if one day I choose to step away from this world… I still want to see Hawell’s move forward. I want to see our customers still enjoying the ice cream we put so much effort into making. And I want to see what we’ve created being cared for and passed on by someone who truly loves it.”
Dr Siripong thanks loyal customers as Hawell’s seeks a buyer to take the brand nationwide and overseas
Finally, Dr Siripong thanked customers for decades of loyalty and trust. He urged them to continue supporting the company after his ordination. He also appealed for introductions to serious purchasers. The right buyer, he said, could take Hawell’s nationwide and then overseas.
“Finally, I would like to express my heartfelt gratitude to all our customers. Thank you for your love, trust, and continuous support of Hawell’s. No matter where my life takes me in the future, I sincerely hope that all of you will continue to love and support ‘Hawell’s Ice Cream’ forever. Thank you very much.”
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For now, the asking price remains ฿165 million. The package includes the land, factory, machinery, licence, trademark and entire recipe collection. In addition, the buyer would receive a plan targeting ฿8.79 billion in annual sales. The successful introducer could collect ฿5 million after completion.
Meanwhile, Dr Siripong’s two-year countdown continues. Before it ends, he must sell Hawell’s and establish his forest retreat. He then plans to surrender business, public life and regular family contact. Hawell’s, however, is being offered a new commercial future under another owner.
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