After the company was valued at 320 million USD, the "spending king" has new revelations.

Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company (dubbed the "king of pepper"), said that Phuc Sinh has just been valued at $320 million by a foreign investment fund after more than 22 years of operation and business in the coffee sector.

The company signed an agreement to receive investment capital from a European fund at the end of 2023. The identity of the fund and the value of the deal were not disclosed.

He stated that the company has been working with this European fund for 18 months. In fact, he said the company is still securing its own funding, and banks are offering attractive preferential interest rates. Therefore, when choosing partners, the company will carefully select them, prioritizing entities that are committed to sustainable development.

Mr. Phan Minh Thong, Chairman of the Board of Directors of Phuc Sinh Joint Stock Company (Photo: Phuc Sinh).

However, during the investor selection process, the company prioritizes entities that value Vietnamese agriculture and values ​​agricultural companies highly.

In the market, many agricultural and wood processing companies are relatively undervalued compared to their actual worth. Years ago, his company also received many collaboration offers but was undervalued and had to refuse them many times. Many partners approached him, but the company couldn't find common ground or a balance of interests between the two sides.

To change the valuation, the Chairman of the Board of Directors of Phuc Sinh believes that partners need to clearly see the company's strengths. The second point partners need to see is transparency, professionalism, a safe and hygienic food business operation system, and a focus on sustainable development.

Regarding partners, this investment fund has many years of experience in the agricultural sector, so it can provide significant support to Phuc Sinh. Furthermore, the terms of cooperation are relatively flexible.

Mr. Phan Minh Thong said that investors in the field of sustainable development are relatively few, and they have relatively meticulous requirements. These funds are usually state organizations, non- governmental organizations, development funds, environmental protection funds, etc.

Regarding the involvement of the aforementioned European fund, Mr. Thong stated that the fund only invests money and does not participate in the company's management. They are a sustainable development partner, wanting to invest in companies that prioritize sustainability and food safety.

According to Mr. Thong, the concept of sustainable development has been a trend for businesses since Covid-19, but it also requires significant costs and expenses to ensure safe development.

This European fund had previously invested in a large coffee corporation in Vietnam, but his company is the first Vietnamese enterprise that the fund has invested in directly, even though they do not have offices in Vietnam or Asia.

According to Mr. Thong, the investment from the European fund is a significant amount of money, which the company will use to build two more coffee factories in 2024, expanding the company's branded coffee chain.

Regarding the concern that while investment is good news, there are worries about being taken over by the fund, Mr. Thong said: "Many partners who come to work with us express their desire to invest, not to take over or significantly impact the business." According to him, if the business is doing well, the issue of being taken over is not a major concern.

Source link: https://dantri.com.vn/kinh-doanh/sau-vu-cong-ty-duoc-dinh-gia-320-trieu-usd-vua-tieu-co-tiet-lo-moi-20240115075913892.htm