VinaCapital, an asset management and investment banking firm, has sold its equity investment in Vietnam's Masan Food for $20 million. Details of the buyer were not disclosed.
Masan Food is the food and beverage business of Vietnam's Masan Group. The group has businesses spanning foods, financial services, natural resources and logistics.
Masan Food was established in 2003 and currently has a market share of around 50% in some food categories such as fish, chilli and soy sauces. It has positioned itself well in the premium market with key brands such as Chinsu and Tam Thai Tu. The business is on a strong growth trajectory and grew revenues to $115 million in 2008 from...
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