Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m

Masan Group arm buys 20% stake in Vietnamese tea brand Phuc Long for $15m
Photo: Phuc Long Coffee and Tea's fanpage
May 24, 2021
The Sherpa Company Limited, a subsidiary of the Vietnamese conglomerate Masan Group Corporation, has acquired a 20% stake in Phuc Long Heritage Joint Stock Company, the firm behind the local tea and coffee brand Phuc Long, for $15 million, according to an announcement.
As part of the deal, the Masan Group-owned retailer VinCommerce, which runs the VinMart supermarket chain, has entered into a strategic cooperation agreement with Phuc Long. Accordingly, both sides will jointly develop “Phuc Long Kiosk” through a network of more than 2,200 VinMart+ stores nationwide.

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