Phu Yen Beer buy-out deepens Masan’s beverage influence
Phu Yen Beer buy-out deepens Masan’s beverage influence
Masan, one of Vietnam’s largest companies, has officially ventured into the beverage sector with its $12 million acquisition of Phu Yen Beer.
According to an announcement issued by Masan, Orchid Consultant Company Limited, a subsidiary of Masan Group, has acquired 100 per cent of Lamka One Member Company Limited, which holds a 99.99 per cent stake in Phu Yen Beer and Beverage Joint Stock Company.
Orchid Consultant will be renamed Masan Brewery.
Phu Yen is a small beer company, but offers Masan a chance to spring into and pursue its goals in the beverage business.
In a previous move, Masan Consumer, another subsidiary of the group, acquired a 53.2 per cent stake in Vinacafe Bien Hoa and 63.5 per cent of Vinh Hao Mineral Water.
However, unlike Phu Yen Beer and Beverage Joint Stock Company, Vinh Hao had a more than 80-year history and was a dominant mineral water retailer in both south and central Vietnam with more than 40 distribution agencies and nearly 25,000 retailers.
Group chairman Nguyen Dang Quang announced on August 13 that Masan Group will increase its chartered capital from VND7.349 trillion to VND7.358 trillion ($349.95 million to $350.38 million), after it issued additional shares in July this year.
After more than 10 years operating, Masan is currently at the forefront of the market in some consumer goods segments, such as fish sauce (80 per cent), soy sauce (70 per cent), instant noodles (21 per cent), chili sauce (40 per cent), and coffee and nutrient food (30 per cent), reported an AC Nielsen survey dated December 2012.
Masan Group is based in Ho Chi Minh City and deals in consumer goods, mineral resources, and banking. It has over 735.8 million shares listed on the southern bourse.
vir
