Masan increases Phuc Long stake to 85%
By Mei Ling Tan
1 min read
Conglomerate Masan Group has bought another 34% in beverage chain Phuc Long Heritage to increase its ownership to 85%.
It paid VND3.62 trillion ($154.60 million) for the deal on August 1, according to its half-year report.
It has invested a total of VND6.45 trillion in Phuc Long.
In the first half of this year Phuc Long reported revenues of VND820 billion, a 38.5% rise year-on-year.
It has 98 flagship stores nationwide, according to its website.