PHUC LONG ACHIEVES THE M&A DEAL WITH MASAN
PHUC LONG ACHIEVES THE M&A DEAL WITH MASAN
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By Nguyen Minh Dung
HCMC, 01 Jul 2021
At the end of May 2021, Phuc Long Heritage joined hands with the retail system VinMart+, to become a destination for necessary daily needs of all ages and together join in global market share started with the American market. In this billion M&A deal, in detail, they will develop the model "Kiosk Phuc Long '' through a network of more than 2,200 VinMart+ stores nationwide and initially received positive responses from communities.
With a 20% stake in hand, the deal is estimated to be worth $15 million, which means Masan values Phuc Long Tea & Coffee chain at about $75 million. According to a founder and shareholder of Phuc Long Heritage, Mr. Lam Boi Minh stated "accompanying with Masan will help Phuc Long brand achieve new heights of development". Currently, the two sides have experimented with opening 4 Phuc Long kiosks in VinMart+ in Thu Duc city and planned to open 1000 similar kiosks within the next 18-24 months. This cooperation contributes to increasing the profit of the whole VinMart+ system by more than 4% compared to the current level.
In addition to the goal of "bringing the Phuc Long Tea & Coffee chain to the world", this deal has helped the "Point of Life" strategy of Masan become closer to reality. Last June, Phuc Long announced the first store in the US on its fan page. According to the introduction, the store will officially go into operation in July 2021 in Garden Grove, California, USA. Phuc Long and Masan are like pioneering shots for the Vietnamese F&B brand to once again transform itself into the world with the determination to achieve the expected success.
PHUC LONG HERITAGE JOINT STOCK COMPANY
Mr. Lam Boi Minh
Legal representative
(+84 28) 6263 0377
marketing@phuclong.com.vn
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