Vietnam's Masan invests more in meat businesses
Vietnam's consumer giant Masan Group Corporation is now shifting its focus to the meat sector that reportedly made up 46% of its revenue in 2015.
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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 (US$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% of Proconco, another major animal feed producer in Vietnam.
The company reported more than VND14 trillion (US$618.67 million) in revenue at the end of last year, or 46% 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% of its total revenue, compared to of 81% in 2014.
