Japan's Summit Agro International scoops up 49 per cent stake in Hop Tri

November 26, 2024 | 14:19

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Summit Agro International Ltd., part of the Sumitomo Corporation, announced on November 21 that it has bought a 49 per cent stake in Hop Tri Investment Corporation.

Japan's Summit Agro International scoops up 49 per cent stake in Hop Tri

Following the deal, the company will change its name to Hop Tri Summit JSC.

Vietnam is ASEAN's leading agricultural supplies market, with a market size of approximately ¥150 billion ($969 million) as of 2023.

Hop Tri Summit JSC is a manufacturer and distributor of crop protection products, fertilisers, and public health products. The company's manufacturing plants and analytical and research laboratory have obtained various international certifications.

In addition, the company has adopted a "Farmers First" corporate policy, deploying 200 sales and technical support members. The team provide meticulous services for sales and marketing activities, making Hop Tri Summit one of the leading companies in Vietnam's agricultural supplies industry.

Summit Agro International Ltd established Summit Agro Vietnam LLC in 2016, and is engaged in crop protection distribution in Vietnam. Summit Agro Vietnam decided to invest in Hop Tri after the firmʼs confirmation of its readiness for the merger and acquisition deal.

Sumitomo Corporation Group plans to invest in other businesses in Asian countries, and Summit Agro International increased its investment in Asia by ¥3.45 billion ($22.3 million) in September.

By combining Hop Tri's business base rooted in Vietnam with the integrated strengths of Sumitomo Corporation, Summit Agro International and Summit Agro Vietnam will expand their products and services, contributing to agriculture in Vietnam as a comprehensive service provider of agricultural supplies.

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