Phuc Sinh - the enterprise with the largest market share in pepper exports, is valued at 320 million USD when receiving capital from a European fund later this month.
Phuc Sinh Joint Stock Company Chairman Phan Minh Thong said the company signed an agreement to receive investment capital from a European fund late last year. The fund’s identity and the value of the deal were not disclosed, but Phuc Sinh was valued at $320 million.
The investment fund is expected to make its full investment at the end of this month with a commitment to accompany for at least 7 years. The raised money will be used to build two large coffee factories. Currently, the company has two factories in Dak Lak and Son La with a total capacity of 30,000 tons per year.
Mr. Thong said he was satisfied with the above valuation because the company currently has annual sales of about 300 million USD, the rest comes from assets, brand value and supply chain built since 2001. He is confident that with more than 100 export markets, the company has strengths in business direction, the only problem to expand more strongly in the future is finance.
In the past, Phuc Sinh has accessed domestic and international capital sources. This time, in addition to capital injection, foreign funds also support sustainable agricultural development orientation, building brand reputation, thereby creating the premise for IPO abroad.
Mr. Phan Minh Thong - Chairman of Phuc Sinh Board of Directors. Photo: Phuc Sinh Group
In the market, Phuc Sinh is considered the "pepper king" when this enterprise announced that it has accounted for 8% of the world's export market share from 2007 to present. Recently, the company has expanded into the coffee industry with the main export market in Europe. Phuc Sinh also opened a chain of K Coffee cafes with 10 stores. In the first 9 months of the year, Phuc Sinh recorded consolidated revenue of about 6,500 billion VND and profit of about 100 billion VND.
According to a recent report from the SFV-Export agricultural export support portal, Phuc Sinh continues to lead the country's spice export sales with a growth rate of about 18% compared to 2022. The spice export company alone increased its market share from 8.4% in 2022 to 15.1% in the European market.
Siddhartha
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