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KKR’s investment is comprised of a $100-million purchase of secondary shares in Masan Group from PENM Partners, an independent Danish private equity company, and a $150-million primary investment in Masan Nutri-Science for a 7.5 per cent stake. This is KKR’s second investment in Masan, after the $359 million invested in Masan Consumer. KKR will make the investment from its Asian Fund II.
Closing the transaction will make KKR the second largest foreign shareholder of Masan Group after the funds owned by the government of Singapore (GIC), and the largest shareholder of Masan Nutri-Science after Masan Group. In addition, the transaction allows PENM Partners to fully exit its original investment in Masan Group.
Masan Nutri-Science, a subsidiary of Masan Group, is Vietnam’s largest fully-integrated (“feed-farm-food” business model) branded meat platform, which focuses on driving productivity in the Vietnamese animal protein industry and, ultimately, directly serving consumers with traceable, quality, and affordable meat products.
In 2016, Masan Nutri-Science sold over 2.5 million tonnes of animal feed through its national network of over 4,500 dealers and 13 feed facilities, generating approximately $1.1 billion in sales. The firm has inaugurated a high-technology pig farm in the central province of Nghe An and became a strategic partner of Vissan to implement its feed-to-farm business model.