KKR said Thursday that Masan Group Corp has bought its remaining stake in Masan Consumer Corp, a branded food and beverage company in Vietnam. Financial terms weren’t announced. KKR said invested $159 million in Masan Consumer in 2011 and then another $200 million in 2013.
SINGAPORE–(BUSINESS WIRE)– Leading global investment firm KKR today announced that it has concluded its partnership with Masan Group Corporation (HOSE:MSN, “Masan”) as Masan purchased the remainder of KKR’s equity in Masan Consumer Corporation (“Masan Consumer”), Vietnam’s leading diversified branded food and beverage company. KKR first invested $159 million in Masan Consumer in 2011 with a second follow-on investment of $200 million in 2013, making it the largest private equity investment in Vietnam.
Seokhee Won, Deputy CEO of Masan Group and CEO of Masan Consumer, commented, “KKR’s investment and partnership with Masan Group has supported the transformation of our leading consumer platform and reaching our goal of having a Masan product in every Vietnamese household. KKR’s investment has also been an important validation of our business model and our growth potential. We remain excited by our future and will work tirelessly to see our products in every household in inland ASEAN by serving consumers with brands they can enjoy and trust.”
Ming Lu, Member of KKR and Co-Head of Private Equity for KKR Asia, said, “KKR is proud of the successful and win-win partnership with Masan Group. Masan Consumer has established itself as a leader in the Vietnamese fast-moving consumer goods industry and we believe the company is very well-positioned for the future. On behalf of KKR, we would like to wish the Masan team continued success.”
Masan Consumer is currently the market leader in seasonings, convenience foods and instant coffee categories and has built its leadership position with some of the most recognized and trusted consumer brands. Since KKR entered into partnership with Masan Consumer in 2011, the company has grown both organically and inorganically, capitalizing on the structural consumption trends and rising middle class potential in Vietnam.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at http://www.kkr.com/ and on Twitter @KKR_Co.
ABOUT MASAN GROUP CORPORATION
Masan Group Corporation (“Masan”) is one of Vietnam’s largest companies. Masan is focused on the domestic consumption opportunity and has built leading businesses in the branded food and beverage sector and in the animal nutrition value chain.
Masan’s businesses include Masan Consumer Holdings, the producer of some of Vietnam’s most trusted and loved brands across many food and beverage categories (such as Chin-su, Nam Ngu, Tam Thai Tu, Omachi, Kokomi, Vinacafe, Wake-up, Vinh Hao and Su Tu Trang), and Masan Nutri-Science, Vietnam’s largest local animal nutrition company (with brands such as Proconco and ANCO). The company’s other businesses include Masan Resources, one of the world’s largest producer of tungsten and strategic industrial minerals, and its associate, Techcombank, a leading joint stock commercial bank in Vietnam.