Mekong Capital invests in ACC

March 03, 2011 | 16:06

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Mekong Capital announced today that Mekong Enterprise Fund II Ltd had invested about $3.4 million in Asia Chemical Corporation, the 10^th and final investment of MEF II since its launch in June 2006.

“Demand in Vietnam for ingredients and specialty chemicals is rising rapidly on the back of explosive consumption growth. In order for us to reach the next level of expansion, we were looking for a long-term investor with a true understanding of and commitment to ACC’s vision.

We chose MEF II as our strategic partner to jointly realise that vision of becoming the top specialty chemicals distributor in Vietnam,” said Nguyen Thien Truc, CEO and founder of ACC.

Asia Chemical Corporation is a leading distributor of high-quality specialty ingredients, chemicals, commodities and other materials in Vietnam. The firm has begun to manufacture select specialty chemical products such as non-dairy creamer and silica gel for export such as coffee and wooden products since 2010.

ACC specialises in providing products and services to various industries including food & beverage, dairy, seafood, instant noodle, pharmaceutical, feed, veterinary, bakery, confectionery, and other applications including personal care, cosmetics, paint and coatings, etc.

The company is currently sourcing products from some 300 suppliers worldwide, storing them in its own facilities, and selling them nationwide to some 1,300 customers including some of the leading enterprises in Vietnam.

The $50 million Mekong Enterprise Fund II is a private equity fund focusing on equity investments in unlisted companies in Vietnam. The fund aims to make investments in well-managed, fast-growing companies, particularly in consumer-driven industries in Vietnam. It has made ten investments and sold two up to date.

By Van Ngoc

vir.com.vn

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