Investcop will acquire a majority share in the company from the existing shareholder and its CEO, Mr. Ben Chng. The deal was concluded in partnership with the Asia Food Growth Fund I.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…12 | the publication reaches you by | Bahrain News
Viz Branz has approximately 1,300 employees with manufacturing facilities and operations in China and Myanmar. It generated SGD170m ($126m) in sales for the twelve months ended June 30, 2020. China is its largest market, accounting for over 65 per cent of its revenues.
“We are proud of our growing Asian investment platform,” said Hazem Ben-Gacem, co-CEO of Investcorp and chairman of the Asia Food Growth Fund Investment Committee. “To date, Investcorp has invested over $1bn in Asia, mostly in China. This transaction represents an exciting opportunity in a market leading company and in what we believe is an attractive, resilient sector with substantial growth dynamics.
“We believe that Viz Branz is well positioned for expansion through increasing distribution in China and other parts of Southeast Asia, delivering product innovation and investing in the company’s operational and multi-channel capabilities as well as through add-on acquisitions.”
Mr. Ben Chng, CEO of Viz Branz said: “We have worked tirelessly at Viz Branz to make nutritional and quality food and beverages available and convenient for all families. Joining forces with Investcorp, China Resources and Fung Investments, is an important milestone in our evolution and will unlock significant opportunities for our business. Through our new partnership, Viz Branz will have access to additional resources and expertise that we believe will accelerate our growth plans and enable us to flourish for many years to come.”
The acquisition of Viz Branz represents Investcorp’s 16th investment in the food and beverage industry in over three decades across the US, Europe, MENA and Asia.
Earlier this month, Investcorp invested in Kindstar Globalgene, the Chinese independent medical testing services group.
Do you have information you want to reach our readers?