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Mekong enterprise grabs garment stake
Mekong Enterprise Fund II has bought an undisclosed stake in garment firm Venture International (Viet Nam) Joint Stock Company for 5.4 million USD.
While refusing to divulge how much stake it picked up, the fund said it usually bought between 20 and 40 percent of a company it invested in.
VIVCO makes workers’ uniforms, children’s wear, and shirts and blouses mainly for the European market.
Its chairman, Johannes Maria Somers, said: “We have experienced strong growth with our four factories always running at full capacity. We chose Mekong Enterprise Fund II as a strategic partner because of the intangible added value it can offer.
“The investment not only reflects the success of VIVCO but will also enable it to maintain its leading market position while pursuing long-term growth plans.”
Chris Freund, managing director of Mekong Capital, which manages the fund, noted that VIVCO had established itself as the leading garment manufacturer for the European market.
VIVCO plans to open two more factories by July 2009.
The 50 million USD Mekong Enterprise Fund II is a private equity fund focused on investments in unlisted companies that hope to list in future.
It has also made investments in the International Consumption Products Joint Stock Company, which owns the X-Men brand of personnal care products, Ngo Han Magnet Wire Joint Stock Company, and Mobile World Joint Stock Company.
VNA
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