VIETNAM October 2019
Tan Hiep Phat seeks US$3 billion injection from investors for its Asia expansion
Major Vietnamese beverage firm, Tan Hiep Phat Beverage Group (THP), is seeking a strategic partner that can invest up to US$3 billion in expanding its operations in Asia and globally.
Interestingly, in 2012, the family-owned company had rejected a US$2.5 billion offer from The Coca-Cola Company to acquire a stake in the company as it said the latter did not share similar vision as THP.
Tran Quy Thanh, Founder of THP expects sales to double to US$1 billion in the next 5 years. He added the company plans to produce an energy drink which is ‘less sweeter’ but packed with caffeine jolt, that is suitable for both Vietnamese and Asian taste buds.
THP is the leading non-alcoholic beverage producer in Vietnam, surpassed only by the joint venture between PepsiCo and Suntory Holdings Ltd. However, its presence in Southeast Asia is still small. It sold about 510 million litres of drinks in 2018, while Danone’s unit in Indonesia, the beverage market leader in Southeast Asia, sold 5.3 billion litres.
The company is now looking to expand sales to neighboring Southeast Asian countries, after investing US$500 million on 3 new factories in the domestic market. THP hopes to find a partner or an investor to help it sell its new energy drink to rival Red Bull in Asia, as well as sell its top selling bottled tea drink, namely Zero Degree Green Tea to other Asian consumers.
THP hopes to capitalise on the growing middle class as well as a growing number of younger but health-conscious consumers who prefer teas and natural drinks with no artificial flavors or high sugar contents.
THP is also open to acquiring smaller beverage players in Asian countries with established tea markets such as Thailand and Taiwan, said Deputy CEO Tran Uyen Phuong, adding that THP is willing to invest as much as US$50 million in this acquisition.



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