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VietNamNews

Masan Nutri-Science owns ANCO, increases Vissan stake

Update: July, 05/2016 - 10:39
Masan Nutri-Science Corporation (MNS), a member of Masan Group Corporation, announced the acquisition of the remaining 30 per cent stake in Agro Nutrition Company JSC (ANCO) on June 30. — Photo nld.com.vn

HCM CITY– Masan Nutri-Science Corporation (MNS), a member of Masan Group Corporation, announced the acquisition of the remaining 30 per cent stake in Agro Nutrition Company JSC (ANCO) on June 30.

This action gives MNS 100 per cent ownership of the company.

MNS also announced purchasing an additional 10.9 per cent stake in the Vietnam Meat Industries Limited Company (Vissan) on the same day. The company said it paid an average price of VNĐ106,000 per share. Following the purchase, MNS now has a 24.9 per cent stake in Vissan.

According to MNS, the stake in Vissan reflected a strategic premium paid to partner with the leading meat consumer brand in the market. MNS’ aim is to deploy a unique business model, directly operating and integrating the entire animal protein value chain, spanning animal feed, farming, slaughter and producing branded meat products.

The company’s vision is to develop into an integrated consumer champion within the meat space.

Phạm Phú Ngọc Trai, chairman of MNS, spoke at length about the strengthening of the partnership with Vissan as they shared a similar vision to provide local consumers with affordable and high-quality branded meat products.

Danny Lê, CEO of MNS, said having more Vissan shares would help the company develop into a consumer champion in the meat industry. — VNS

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