VinaCapital Group has bought a 10 per cent stake in ThaiHoa Group.
“ThaiHoa Group has the fundamentals for strategic development. Personally, I believe that ThaiHoa will soon become Vietnam’s largest coffee firms with sustainable developing strategy from the material area to the value goods production,” Brook Taylor, managing director of VinaCapital Group, said at the agreement signing ceremony today in Hanoi.
As one of the leading firms in Vietnam’s agricultural sector, ThaiHoa Group is the biggest Arabica coffee exporter in Vietnam, accounting for 60 per cent of the country’s total Arabica coffee exports.
Taylor added that Vietnam would continue to be the leading exporter of coffee beans especially expanding coffee crop areas and pushing the high-quality Arabica coffee export.
Nguyen Van An, chairman of ThaiHoa Group, said the VinaCapital investment gave creditability to ThaiHoa’s potential growth.
“For the time being we are to focus on domestic market as well as boosting the Arabica coffee exports to make ThaiHoa coffee to be the leading brand in Vietnam and Southeast Asia,” An said.
Dang Pham Minh Loan, deputy managing director of VinaCapital, said VinaCapital would support ThaiHoa Group to map out strategic development and approach potential partnership globally.
“We appreciate the firm’s fundamentals, which are most important to our investment criteria. ThaiHoa Group has high growth potential and we expect this firm to achieve large profits in the next few years,” said Loan.
In a related development, ThaiHoa Group signed a consulting agreement with APEC Securities for a financial restructuring plan, preparing for listing on the Hanoi Stock Exchange.