HO CHI MINH CITY, Vietnam
April 13, 2011
/PRNewswire/ -- Masan Group (HOSE: MSN, "Masan"), one of
's largest private sector business groups, today announced that Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR"), a leading global investment firm with
in assets under management, has signed definitive agreements to acquire an equity stake in Masan Consumer Corporation ("Masan Consumer" or the "Company", formerly known as Masan Food). KKR will invest
for a 10.0% equity stake in Masan Consumer, valuing the Company at
and making the investment the largest ever private equity transaction in
. This is KKR's fourth investment in
and first in
. Masan Consumer will issue 14 million ordinary shares to KKR and decrease Masan Group's stake in Masan Consumer from 86.6% to 78.0%.
Masan has raised approximately
in private equity capital over the past two years and is currently one of the largest listed private sector groups in
. Masan Consumer is the fastest growing FMCG Company in
, CEO of Masan Group, commented, "We have recently taken our market leading food platform to transform it into a consumer platform and this transaction validates our consumer strategy. We welcome KKR as a partner to assist us in achieving this objective. In addition, we view the next 2 years as transformational for the group and continue to build a war chest for strategic M&A."
Truong Cong Thang
, CEO of Masan Consumer, commented, "We have built a leading consumer platform in
. We will leverage our platform to diversify into other FMCG categories in the near future."
, Member of KKR, commented, "KKR is excited to be making the largest ever private equity investment in
. This investment demonstrates our strong conviction in the business prospects of Masan Consumer, as well as in
as a whole."
Masan Consumer is currently the market leader in fish, soya and chili sauce and the second largest producer of branded instant noodles. Masan and experience in building leading brands to achieve its vision to become the leading consumer company in
. Masan Consumer's revenue for the year ended
December 31, 2010
) in 2008 and net profit increased to
Goldman Sachs was advisor to Masan Group for the transaction.