Featured information about Masan Group and Market

February 10, 2022

Masan acquires majority stake in Phuc Long tea chain

Phúc Long @ WinMart.jpg

A person holds a Phuc Long cup inside a VinMart+ store (now WinMart) in Thu Duc City. Photo by VnExpress/Quynh Tran

Conglomerate Masan announced Wednesday that it has spent an additional $110 million to increase its ownership in the Phuc Long beverage chain from 20 percent to 51 percent. "Since Masan’s initial investment, Phuc Long has demonstrated strong synergies with MSN’s Point-of-Life strategy, which can now be accelerated
with Phuc Long as a consolidated subsidiary of Masan," it said in a press release.

Masan first bought a 20 percent stake in Phuc Long in May last year for $15 million. The latest purchase puts the valuation of the tea and coffee chain at $355 million.

Incorporating Phuc Long’s tea kiosks into Masan’s WinMart+ stores nationwide has been part of the conglomerate’s plan since last year as it sought to advance its "Point of Life" strategy by developing a mini-mall concept that serves a wide array of essential products and services such as groceries, beverage, pharmaceuticals and financial products.

Masan plans to launch 2,000 such mini-malls this year, and Phuc Long is set to contribute up to VND3 trillion ($132 million) to the conglomerate revenues, which hit VND88.6 trillion last year.

Phuc Long was established in 1968 in the Central Highlands province of Lam Dong. The company launched its tea and coffee chain in 2012 with is first store in HCMC.

Source: VnExpress

Related News


Accelerating digital transformation, Masan aims for $4.33b revenues in 2022

April 29, 2022


Masan Group invests $65 mln in Vietnam Fintech Startup

April 28, 2022


Masan High-Tech Materials aims to become a high-tech consumer business

April 25, 2022


Accelerating Point of Life strategy, Masan recognized as consumer champion in Vietnam

February 16, 2022


Foreign investors upbeat about the outlook of The CrownX

January 20, 2022


HSBC Research forecasts the target price of Masan's stocks at $8.81

January 08, 2022