Tanncam buys 65% Vibe stake
Tanncam Investment Co Ltd, an Uzbek-owned investment group registered in Cambodia with holdings in the healthcare, e-commerce, consulting, and food and beverage sectors, has acquired a 65 per cent stake in Vibe Cafe Hospitality, a press release said on Monday.
The company has not disclosed the value of the share in the deal which was closed on June 9.
Vibe Cafe Hospitality is Cambodia’s leading vegan and health food restaurant group with two outlets in Phnom Penh and one in Siem Reap.
In addition to vegan and health food restaurants, the group is a wholesale distributor of its proprietary products, a leading provider of rejuvenating cleansers and lunchboxes, and an innovator in unique health food and vegan recipes.
The group recently entered into the franchising and restaurant consulting business.
Vibe Cafe founder Emma Fountain will retain 31 per cent ownership and remain as CEO.
“The global health food industry is booming as people are adopting healthy eating habits, not only for body and mind wellness, weight control and for a better nutritional diet, but to live longer and to avoid chronic diseases such as diabetes and cancer,” she said.
As part of the agreement, Tanncam will inject additional capital to accelerate the franchising opportunity, according to Fountain.
“We have incubated and developed an incredibly successful health food business in Cambodia with attractive payback periods, loyal customers, and robust financial returns. With Tanncam’s support, we have a fantastic opportunity to expand the model globally through franchising,” she said.
Cambodian Investment Management CEO Anthony Galliano said health and vegan food is no longer a niche market segment. It’s a trillion-dollar industry which is a movement that is just getting started, growing rapidly and gaining extensive acceptance.
This is Tanncam’s first investment in the food and beverage industry.