The investment will increase Kohlberg Kravis Roberts (KKR)’s total investment in Masan Consumer Corporation to $359 million during the pas two years.
“Doubling our investment in less than two years demonstrates our strong conviction in Vietnam’s growth story, Masan Group as our partner of choice in Vietnam and Masan Consumer as a leading Vietnam consumption platform,” Ming Lu, member of KKR and regional head of Southeast Asia, said.
Masan Group is one of the largest publicly-listed private sector groups in Vietnam focusing on the country’s consumption and resources sectors. Masan Consumer is currently a market leader in sauces, instant noodles and instant coffee categories and has built its leadership position with some of the most recognized and trusted consumer brands through a strategy of putting Vietnamese consumers first.
KKR firstly invested in Masan Consumer in April 2011 with $159 million. The Masan Consumer investment is the first since KKR opened its’ Singapore office and adds to the largest-ever private equity investment in Vietnam.
“Our partnership with KKR strengthens our strategy to diversify into other fast moving consumer goods categories in the near future, to better meet the needs of consumers in Vietnam,” Truong Cong Thang, chief executive officer of Masan Consumer, said.
As Masan Consumer broadens and deepens its consumption strategy, it will leverage KKR’s global retail and consumer experience and work hand-in-hand with KKR Capstone, a team of operating executives who work exclusively with KKR’s portfolio companies, on instilling world-class business management processes.
Bao Tram (vir.com.vn)