Private equity firm KKR has doubled its investment in Masan Consumer Corp, taking a bigger stake in the Vietnam noodle and fish sauce firm.
The deal, which marks the largest single private equity investment in the Southeast Asian country, will see KKR invest an additional US$200m in Masan, the two firms said in a joint statement today (9 January).
KKR bought a 10% stake in Masan for $159m in April last year, its first acquisition in Vietnam.
KKR, however, did not disclose what stake it now holds in Masan Consumer following this latest purchase of primary and secondary shares.
"Doubling our investment in less than two years demonstrates our strong conviction in Vietnam's growth story, Masan Group as our partner of choice in Vietnam and Masan Consumer as a leading Vietnam consumption platform," said KKR regional head of Southeast Asia, Ming Lu.
TPG Capital and Danish investment fund BankInvest also own stakes in Masan, whose brands include Chin-Su, Omachi and Kokomi.
