Japan's Lion Corporation fully acquires Vietnam-based affiliate Merap Lion

The deal is in line with the Lion Group’s medium-term management plan "Vision2030 2nd STAGE" launched this year with a view to strengthen business portfolio management and step up growth measures overseas.

Lion acquired a 36 per cent stake in Merap Holding Corporation in March 2023, changing the latter’s name to Merap Lion Holding Corporation in April 2023.

Merap Lion is steadily striving to expand by focusing on further developing its major brands in the healthcare field, as well as its distribution network and sales capabilities covering hospitals, clinics and pharmacies throughout Vietnam.

To generate greater synergy and further expand Merap Lion’s business, Lion has decided to make Merap Liona wholly owned subsidiary. This move will facilitate the blending of Merap Lion’s strengths with those of the Lion Group in product development and production technology in the oral healthcare and other categories.

Going forward, with an eye to generating social and economic value for Merap Lion, Lion Group will continue to leverage that company’s strengths and ability to encourage the creation of better habits in the Vietnamese market while expanding the group’s consolidated performance.

Lion Group specialises in manufacturing and trading in pharmaceuticals, oral care, beauty care, fabric care, and living care. Vietnam's healthcare market boasts tremendous potential for Lion Group to expand its footprint.

According to the latest report from PwC, the healthcare merger and acquisition landscape in Vietnam for the rest of 2025 is expected to be vibrant, driven by increasing demand for high-quality healthcare services and a rapidly expanding middle class.

Merap and Lion announce strategic partnership Merap Group Corporate and Lion Corporation (Japan) on January 16 signed a Master Investment Agreement (MIA) to promote future development.

Health M&As need careful navigation Strong growth potential is expected to spur on mergers and acquisitions in Vietnam’s healthcare and pharmaceutical industry in 2025, but a more business-conducive environment is being called for so that the potential is actually reached.

Viable progress made with M&As from Japan to Vietnam Even though the financial market has recently calmed, businesses remain cautious, and the merger and acquisition market is yet to regain momentum. Masataka “Sam” Yoshida, head of the Cross-border Division at RECOF Corporation, shared his insights with VIR’s Bich Ngoc on the trends shaping dealmaking activity.