F&N eyes Chuong Duong Beverage factory acquisition

February 27, 2026 | 16:41

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Fraser and Neave, Limited, part of the Thai Beverage group, has offered VND98 billion ($3.76 million) to acquire Chuong Duong Beverage’s Nhon Trach 3 soft drink factory.

F&N eyes Chuong Duong Beverage factory acquisition

Chuong Duong Beverage Joint Stock Company has added documents for an extraordinary shareholders’ meeting scheduled for late February. The company noted that this offer includes $2.53 million for tangible assets and $1.23 million for the Saxi brand.

F&N plans to carry out the transaction through its wholly owned Singapore-incorporated subsidiary, F&N Ventures Pte. Ltd.

Prior to this, F&N invested $230.3 million to purchase more than 96 million shares of Vinamilk at the end of 2025, consolidating its position as the largest foreign shareholder.

F&N has offered $3.76 million for the Nhon Trach 3 soft drink factory. The company is expected to pay 35 per cent to Chuong Duong upon signing the transfer contract. Another 60 per cent will be paid upon completion of the transfer, with the remaining balance retained to address post-transaction matters.

This move comes amid Chuong Duong’s prolonged business downturn. Specifically, Chuong Duong has recorded losses for five consecutive years. In the 2025 financial year alone, it posted a loss of $3.09 million, bringing accumulated losses to $13.43 million.

The Board of Directors assessed that the situation has placed significant pressure on shareholders’ equity and requires urgent decisions to improve the company’s financial capacity and cash flow.

The Nhon Trach 3 soft drink factory broke ground at the end of 2019 with a total investment of $3.07 million and began operations in 2022. Chuong Duong planned to increase the factory’s capacity by 50 per cent, bringing total output to 50 million litres per year. The factory helped the company expand its product portfolio and distribution roadmap, thereby strengthening its position in the soft drinks market.

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