Vietnam: Masan plans to expand reach in beverages industry
According to Vietnam Breaking News, Masan Group, Vietnam’s largest private sector company, is planning for expansion in the beverage market in 2014.
Masan Group is currently establishing Masan Consumer Holdings (MCH) to consolidate its stakes in Masan Consumer under one company while acquiring others.
Masan Consumer recently acquired a 62% stake in the Vinh Hao Mineral Water Company, expanding its beverage portfolio which also includes Vinacafe Bien Hao, and strengthening its management team with the hiring of Le Trung Thanh, the former CEO of Nutifood and senior executive at PepsiCo Vietnam.
The company plans to broaden Vinh Hao’s product portfolios to other categories, including RTD tea, soft drinks, juices and energy drinks.
“We are continuously evaluating new product opportunities in areas that will appeal to our target markets and where we believe we will be able to leverage our established distribution network and brand-building capabilities, both in our existing product areas and in new product areas," Venkatesh, Masan Group’s head of group strategy said. "This allows us to strengthen our market share and achieve higher than average profitability.”
Source: Vietnam Breaking News