Masan first started operations in 1996
Masan Group Corporation was incorporated in November 2004 under the name Ma San Shipping Corporation. We officially changed our name to Ma San Group Corporation in August 2009 and were successfully listed on the Ho Chi Minh Stock Exchange on 5 November 2009. Our name was formally changed to Masan Group Corporation in July 2015 in order to be consistent with our corporate brand and practice. While the listed entity was formally incorporated in 2004, Masan, through our majority shareholder and our underlying operating businesses and their predecessor companies, has been in existence as a business group since 1996.
As Vietnam develops economically, our consumers and their needs continue to evolve, moving beyond daily essentials to a wider array of tailored products, services and experiences that reflect their modern lifestyles and aspirations. Consumers are also increasingly tech-savvy and value convenience. Anticipating these changes, Masan Group has gone beyond being a producer of branded consumer goods and is well on its’ journey to becoming an integrated offline-to-online consumer-tech ecosystem.
Thriving for a
better life
Masan Group successfully refinanced and extended loan facilities totaling USD650 million, extending the maturity by two years until 2030 and reducing interest rates by up to 85 bps.
Masan Group honored in Fortune Southeast Asia 500 list in terms of revenue. In the consumer – retail sector of Vietnam, Masan Group is the company topping the Fortune rankings with a revenue in 2023 reaching over 3.2 billion USD.
Masan Group announced the signing of definitive agreements with Mitsubishi Materials Corporation Group bring back USD134.5 million. Masan is expected to report a one-time profit gain of approximately USD40 million as a result of the transaction and benefit from long-term NPAT uplift of USD20-30 million.
Masan Group announced that Bain Capital, a leading global private equity firm, had completed a USD250 million equity investment in Masan Group.
Masan Group receives an investment of 250 million USD from the private investment fund – Bain Capital in equity capital. This transaction marks Bain Capital’s first investment project in Vietnam. This is an investment in the form of purchasing convertible dividend preference shares (CDPS) issued at a price per share of 85,000 VND and can be converted into common shares at the rate 1:1.
Masan organized the event ‘Application of AI, ML and data science technology in consumer – retail’ in Ho Chi Minh City. Here, Masan shares about the consumer ecosystem – pioneering technology that solves difficult problems of the Vietnamese consumer market.
Masan Group was honored as “Asia’s Best Place to Work 2023” and won the award category “Enterprise with a diverse, equal and inclusive working environment” by the leading prestigious magazine in human resources in Asia – HR Asia at the annual HR Asia Awards ceremony.
Masan Group continued to be honored in both categories: Sustainable Resource Management and Outstanding Risk Management Platform at the announcement event of TOP 50 Corporate Sustainability Awards (CSA) organized by Nhip Cau Dau Tu Magazine.
The Sherpa Company Limited, a subsidiary of Masan Group Corporation, receives the offshore investment registration certificate to carry out investment activities in Singapore. The investment worth up to USD105 million for 25% of share ownership of Trust IQ Pte. Ltd. (“TS”), a Singapore-based tech company, equivalent to up to 9.388.756 shares.
Masan Group Corporation announced the successful full disbursement of its USD600 million syndicated loan, an underwritten transaction which was oversubscribed by 37 international lenders. Transaction is the largest ever 5 year offshore syndicated loan in Vietnam’s private corporate sector. The loan is priced at 2.9% over the USD Secured Overnight Financing Rate, or approximately 6.7% per annum.
The Sherpa Company Limited, a direct subsidiary of Masan Group acquired 10,837,500 ordinary shares, equivalent to 34% equity interests of Phuc Long Heritage Corporation for a total consideration of VND3,617,700 million. As a result of this transaction, Masan Group’s equity interests in Phuc Long Heritage has increased from 51% to 85%.
H.C. Starck Tungsten Powders, a wholly owned subsidiary of Masan High-Tech Materials, announced the signing of definitive agreements to invest £45m (approx. €52m) into Nyobolt Limited, a fast-charging Li-ion battery solutions company that leverages HCS’s advanced tungsten materials in its anode, for a 15% equity interest on a fully diluted basis.
Masan received certificate to develop Southwestern Food Industrial Center No.2 at Song Hau Industrial Park, Chau Thanh district, Hau Giang province.
Masan Group Corporation closed its USD65 million investment for 25% of Trusting Social Company JSC, the Vietnam subsidiary of Singapore based Trust IQ Pte. Ltd. (“Trusting Social”). The partnership with Trusting Social will accelerate Masan’s off-to-online vision to provide Retail and Consumer AI and fintech solutions to power its consumer-tech ecosystem.
MSN acquired an additional 31% stake in Phuc Long, increasing its ownership to 51%. At a purchase price of USD110 million, the implied equity valuation of Phuc Long was USD355 million.
Masan Group Corporation announced the signing of a USD350 million primary investment in The CrownX Corporation (“TCX”) by a consortium of investors, including TPG, Platinum Orchid (a wholly owned subsidiary of Abu Dhabi Investment Authority), and SeaTown Master Fund, managed by a wholly owned indirect subsidiary of Temasek Holdings (the “Transaction”). The Transaction marks the final capital raising at the TCX ecosystem, which has attracted over USD1.5 billion in investments from marquee global investors since its inception in 1H2020.
Masan Group Corporation (“Masan”) and SK Group announced the signing of definitive agreements to acquire secondary shares of The CrownX (“TCX”) for a total cash consideration of USD345 million, of which USD340 million will be from SK Group (the “Transaction”). Post the completion of the transaction, Masan will own 85.0% and SK will own 4.9% in The CrownX, with Masan potentially increasing its stake in TCX further in the near future.
Masan Group Corporation announced the signing of strategic agreements with De Heus Vietnam (a subsidiary of the Dutch Royal De Heus Group), pursuant to which De Heus Vietnam will obtain control of the feed related business (the “Transaction”) and invest in Vietnam’s animal protein supply chain – De Heus will invest approximately USD600-700 million. The Transaction is part of the implementation of the Memorandum of Understanding signed in September 2021 to achieve the following results – Masan MEATLife to focus on branded meat while De Heus Vietnam to prioritize providing animal nutrition, genetics, and husbandry solutions.
The Sherpa Company Limited, a subsidiary of Masan Group Corporation (HOSE:MSN, “Masan”) announced its entry into telecom, closing the acquisition of 70% of Mobicast Joint Stock Company, operating under the brand Reddi, a start-up full-serviced Mobile Virtual Network Operator, for a total cash consideration of VND295.5 billion. The entry into the telecommunication sector lays the foundation to digitalize Masan’s platforms and build a unified off to online products and services solution, “Point of Life” consumer ecosystem.
Masan MEATLife Corporation and De Heus Vietnam announced the signing of a Memorandum of Understanding. The combination of De Heus Vietnam’s expertise in the upstream sector and Masan’s champion integrated FMCG-retail platform has the potential to accelerate the modernization of the animal protein value chain. The parties are committed to develop one or more collaboration agreements by the first quarter of 2022.
Masan Group (Masan) and its subsidiary, The CrownX (“TCX”) announced the acquisition of TCX’s shares from minority shareholders (the “Transaction”). As a result of the Transaction, Masan Group’s direct and indirect stakes in TCX increased from 80.2% to 84.9%.
The Sherpa Company Limited – a subsidiary of Masan Group Corporation announced the signing of the definitive agreements to acquire 20% stake in Phuc Long Heritage Joint Stock Company Phuc Long Heritage is the company which shall own the Phuc Long brand, one of the leading tea and coffee brands in Vietnam. The purchase price of the Transaction is 15 million USD.
Masan Group Corporation and a consortium led by Alibaba Group and Baring Private Equity Asia today announced the signing of definitive agreements for the acquisition of a 5.5% stake in The CrownX for a total cash consideration of USD400 million. The CrownX is Masan’s integrated consumer retail arm that consolidates its interests in Masan Consumer Holdings and VinCommerce. The Transaction implies a pre-money valuation of USD6.9 billion for 100% of its equity. Masan will own 80.2% of the Company post the consortium’s investment.
Masan Group Corporation and SK Group (“SK”) announced the signing of definitive agreements for SK’s acquisition of a 16.26% stake in the company holding VinCommerce shares (“VCM” or the “Company”) for a total cash consideration of USD410 million (the “Transaction”). The Transaction values VCM at USD 2.5 billion for 100% of its equity
Masan High-Tech Materials Corporation (“MHT”) and Mitsubishi Materials Corporation (“MMC”) forged a strategic alliance with Mitsubishi Materials Corporation (“MMC”) towards developing a leading high-tech tungsten materials platform. As part of this partnership, MMC subscribed for 109,915,542 new ordinary shares privately placed with a total cash value of USD 90 million. Upon completion of the issuance, MMC will hold 10.0% of the company’s fully diluted equity, thereby becoming MHT’s second largest shareholder
Masan MEATLife Corporation (“MML”), a subsidiary of the Company, announced two strategic milestones on its journey to provide nearly 100 million Vietnamese consumers with delicious, safe and affordable meat products: (i) commissioning of MEATDeli Saigon Processing Complex worth VND1,800 billion in Long An; and (ii) acquisition of 51% of 3F VIET JSC – a national leading poultry meat production platform.
Masan Resources AGM passed a resolution approving the change of company name to Masan High-Tech Materials.
The CrownX Corporation (“The CrownX”) officially went into operation. This is the holding company that owns Masan Consumer Holdings (“MCH”) – the leading company in the FMCG sector and VCM Services and Trading Development JSC (“VCM”) – #1 modern trade (“MT”) platform in Vietnam in terms of market share.
Masan HPC, a wholly-owned home and personal care subsidiary of Masan Consumer Corporation, launched a tender offer to acquire up to 60% shares of Net Detergent JSC (NETCO) at price of VND48,000 per share. The transaction aligns with Masan’s 5-Year strategic game plan to broaden its product portfolio to better serve 100 million Vietnamese consumers
More than 324.3 million shares of Masan MEATLife Joint Stock Company (MML) were listed on UPCoM. In addition to promoting greater transparency for shareholders, the UPCoM listing will also be a strategic step towards MML’s ultimate goal of doing an international style IPO on the HOSE in 2022-2023
Masan Group Corporation and VinGroup completed the merger of MCH with VinCommerce and VinEco through a share swap structure. The merger is expected to optimize operations of both groups, and will create a new Consumer Goods & Retail group with superior competitive advantage and size in Vietnam. Masan Group is the majority shareholder (70%) of the combined entity, which shall hold 85.7% of Masan Consumer Holdings and 83.7% of VinCommerce.
Masan Tungsten Limited Liability Company, a wholly owned subsidiary of Masan Resources Corporation, signed an agreement to purchase the Tungsten business of H. C. Starck Group GmbH. This transaction is a strategic step in executing Masan Resources’ vision to become a leading vertically integrated high-tech industrial materials platform in the world
Masan Nutri-Science was renamed Masan MEATLife to reflect its successful transformation into a branded consumer meat player.
Masan MEATLife successfully launched its branded fresh and chilled meat platform, “MEATDeli”.
SK Group invested approximately US$470 million to become the Company’s largest foreign shareholder.
Nui Phao Mining acquired the remaining 49% stake in the joint venture company Nui Phao – H.C. Starck Tungsten Chemicals Manufacturing from H.C. Starck for total cash consideration of US$29.1 million. The joint venture company after the transaction is now a 100% wholly owned subsidiary of Masan Resources and has been renamed Masan Tungsten LLC.
Jinju Ham acquired a 25% stake in Saigon Nutri Food, which was then renamed Masan Jinju.
Masan MEATLife held a groundbreaking ceremony of its meat processing complex in Ha Nam province.
PENM Partners invested US$16 million to acquire secondary shares representing a 0.8% equity stake in Masan MEATLife Corporation from Masan Group.
Masan Group repaid its US$30 million convertible loan originally lent by Goldman Sachs, effectively reducing its fully-diluted share count by an additional 13.6 million shares on an as-if-converted basis.
Masan Horizon purchased non-voting preference shares in Masan Resources for a total cash consideration of US$22.9 million, increased Masan Group’s indirect ownership in Masan Resources from 93.8% to 96.0%.
Masan Beverage Company Limited increased its stake to 98.49% of the shares in Vinacafé Bien Hoa Corporation.
Masan Group completed the buyback of 100,665,722 shares.
KKR invested US$150 million to purchase 7.5% stake in Masan Group‘s branded meat platform, Masan NutriScience, and US$100 million purchase of secondary shares of Masan Group from PENM Partners.
Masan Group completed the issuance of bonus shares for all shareholders.
Masan Group paid a cash dividend to its shareholders with a dividend rate of 30% (VND3,000 per share).
Masan Group increased its indirect ownership in MSR from 74.39% to 95.9%.
Masan Beverage increased ownership in Vinacafé Bien Hoa to 68.46%.
Masan Nutri-Farm (NA) broke ground on high-tech pig farm in Nghe An, completing our 3F (Feed – Farm – Food) business model.
Masan Consumer Thailand was established and introduced its first seasoning brand in Thailand, Chin-su Yod Thong fish sauce.
ANCO increased its stake in VISSAN to 24.94%, and Masan NutriFarm (N.A) was established.
Masan Nutri-Science increased its direct ownership in ANCO from 70% to 99.99% and Vinacafé Bien Hoa acquired 85% ownership in CDN – a company in the single-serve coffee category.
Masan Beverage acquired additional 4.32% ownership in Vinh Hao to increase ownership to 88.56%.
ANCO acquired a 14% stake in VISSAN to become its strategic partner.
Masan Beverage increased its direct ownership in Vinacafé Bien Hoa to 60.16%.
]MCH increased its direct ownership in Masan Consumer to 96.7%. Masan Beverage increased its direct ownership in Vinh Hao to 84.2% and MNS increased its ownership in Proconco to 75.2%
A day after the signing of the Singha deal, Masan Brewery quadrupled its brewery capacity with a new facility in Hau Giang.
MCH and Singha signed a partnership agreement. As part of the partnership, Singha will has the right to invest up to US$1.1 billion into MCH and our beer business.
Masan Beverage acquired control of Quang Ninh Natural Mineral Water Limited, owner of the Quang Hanh brand which, together with Vinh Hao.
Masan MB commissioned a manufacturing hub to produce fish sauce and instant noodles in Nghe An Province.
Masan Resources was listed on the Hanoi Stock Exchange’s UPCoM exchange.
MCH issued a five-year VND9,000 billion bond.
Masan acquired Sam Kim Limited Liability Company, the controlling shareholder of Proconco and ANCO. The acquired company was subsequently renamed Masan Nutri-Science.
Masan Consumer acquired a 99.99% stake in Saigon Nutri Food.
Masan Consumer acquired a 32.8% stake in Cholimex Food. Masan Group also divested noncore businesses such as food packaging.
MCH completed a landmark 10-year bond issuance, which raised VND2,100 billion at an 8% fixed coupon rate.
Phu Yen Beer and Beverage JSC, producer of the “Su Tu Trang” beer brand, were acuqired as Masan Brewery Company Limited and has been transferred to MCH.
Masan Consumer established Masan Beverage.
Nui Phao Mining successfully finished its commissioning.
Hoa Bang Lang Consultant Company Limited was renamed to Masan Consumer Holdings Company Limited, as MCH.
Nui Phao Mining and H.C. Starck established Nui Phao – H.C.Starck Tungsten Chemicals Manufacturing.
Masan Consumer’s ownership percentage in Vinh Hao is increased to 63.5%.
Masan Consumer acquired a 24.9% stake in Vinh Hao.
An additional 8.7% stake in MCH is sold to KKR for US$200 million, diluting the Group’s stake in Masan Consumer to 77.7%.
US$50 million was raised through an issuance of a mandatory convertible loan, convertible into shares to Kairos Capital Limited.
Convertible instruments were issued to Mount Kellett and the Richard Chandler Corporation.
Masan Consumer increased its stake of Vinacafé Bien Hoa to 53.2%.
Masan Consumer acquired a 50.3% stake in Vinacafé Bien Hoa.
KKR invested US$159 million in Masan Consumer for a 10% stake.
Economic stake in Techcombank was increased to 30.6% following the purchase of Techcombank’s convertible bonds.
Economic stake in Techcombank was increased to 30.6% following the purchase of Techcombank’s convertible bonds.
Effective ownership in Masan Consumer was increased to 86.6%.
Goldman Sachs provided US$30 million five-year convertible loan.
VND974 billion was raised through a private placement of primary shares to Orchid Fund Private Limited.
Masan Resources was established. Mount Kellett invested a 20% stake in Masan Resources.
International Finance Corporation provided a six-year VND760 billion partially convertible loan.
VND360 billion in equity capital was raised from House Foods Corporation Inc. of Japan.
Officially listed on the Ho Chi Minh Stock Exchange and began trading under the symbol “MSN”, became the sixth largest company in Vietnam based on market capitalization.
Ownership in Masan Consumer was increased to 76.6%.
BankInvest invested in the Company and became a major shareholder, joining Board of Directors.
TPG invested VND630 billion in the Company in the form of convertible bonds.
TPG invested VND630 billion in the Company in the form of convertible bonds.
The Company was renamed Ma San Group Corporation, holding 19.9% and 54.8% stakes in Techcombank and Masan Consumer, respectively.
Madhur Maini was appointed as Chief Executive Officer of Ma San Group.
Masan Trading Corporation, the parent company, that held Masan’s interest in the packaged food sector, reached VND2,000 billion in sales.
“Nam Ngu” and “Tam Thai Tu” were introduced.
Ma San Shipping Corporation, was established, later renamed Ma San Group Company.
The sauce brand, “Chin-su” was introduced successfully in the domestic market.
Minh Viet Import – Export Company and Masan Industrial JSC were established
Masan’s first predecessor company, Viet Tien Industry–Technology–Trading Company, a manufacturer of seasonings.