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Vietnam's Masan invests more in meat businesses
By Nguyen Nga - Thanh Nien News -
Vietnam's consumer giant Masan Group Corporation is now shifting its focus to the meat sector that reportedly made up 46 percent of its revenue in 2015.
The group's subsidiary Masan Nutri-Science (MNS) has bought the remaining 30 percent stake in animal feed company Anco, and increased its ownership in meat producer Vissan to 24.9 percent from 14 percent.
While the value of the buyout of Anco was not disclosed, MNS reportedly paid VND702 billion (US$31.02 million) for the additional stake in Vissan, after paying more than VND1.43 trillion ($63.19 million) for acquiring 11.3 million shares of the meat company in March.
Established in April 2015, MNS also controls more than 75 percent of Proconco, another major animal feed producer in Vietnam.
The company reported more than VND14 trillion ($618.67 million) in revenue at the end of last year, or 46 percent of Masan Group Corporation's earnings, according to local media.
The group's unlisted subsidiary Masan Consumer, which owns popular brands such as Chin-su and Vinacafe Bien Hoa, made up 43 percent of its total revenue, compared to of 81 percent in 2014.