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Masan acquires 51% stake in poultry meat producer 3F VIET

Xuan Thinh Friday | 11/27/2020 12:48

Photo courtesy of Masan

Masan MEATLife JSC, a subsidiary of Masan Group has completed acquiring 51 percent stake in 3F VIET JSC, a leading domestic player in poultry meat platform.

By injecting VND613 billion ($26.4 million) into the company, Masan has officially entered the poultry meat market. Masan MEATLife see poultry is the second most important animal nutrition in Vietnamese meals.

Established in 2014, 3F VIET emerged as one of the leading domestic players with a vision to transform the poultry market with chilled packaged and processed chicken meat products.

3F VIET platform spans across the value chain, from breeders, hatcheries, meat farms to large-scale food processing and packaging facilities. All adhere to strict environmental standards in food hygiene and safety.

With an efficient operating model, it aims to generate VND1,000 billion ($43 million) in revenue with break-even EBITDA for the financial year 2020.

Despite starting from different starting points, 3F VIET and MML share the same mission of offering consumers fresh, delicious and nutritious meat products that ensure best in class safety and hygiene standards, Masan said in a statement.

The partnership and the capital provided by Masan enable 3F VIET to sell products in Masan’s distribution network including modern trade channels such as VinMart and VinMart+ chains.

Photo: Masan
Photo: Masan

In related development, Mitsubishi Materials Corporation has closed the $90 million deal for a 10 percent stake in Masan High-Tech Materials. The two firms have established a strategic alliance in the tungsten industry, with an objective to develop a leading, high-tech tungsten materials platform.

As part of the strategic alliance, Mitsubishi subsidiary subscribed for 109,915,542 newly issued ordinary shares via a private placement, becoming the second largest shareholder.    

Masan High-Tech Materials is a subsidiary of Masan Group. The company is a leading supplier of critical minerals including tungsten, fluorspar and bismuth, is currently operating the world class polymetallic mineral resource and chemical processing plant in Northern Vietnam.

While Mitsubishi Materials Group is an “integrated materials manufacturer.” It meets customers' needs by providing such basic materials as copper and cement.  

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