Investcorp acquires majority stake in Singapore F&B firm Viz Branz

Global investment management company Investcorp has acquired a majority stake in Singapore-headquartered food and beverage manufacturer Viz Branz Holdings from its shareholder and CEO, Ben Chng, according to a press statement.

The firm acquired the stake through its vehicle Asia Food Growth Fund I. Financial terms of the deal were not disclosed. This acquisition represents Investcorp’s 16th investment in the food and beverage space.

Following the acquisition, Chng will maintain a significant stake in Viz Branz.

“This transaction represents an exciting opportunity in a market-leading company and in what we believe is an attractive, resilient sector with substantial growth dynamics,” said Hazem Ben-Gacem, co-CEO of Investcorp and Chairman of the Asia Food Growth Fund Investment Committee. To date, Investcorp has invested over $1 billion in Asia, mostly in China.

Viz Branz makes and distributes instant cereal and coffee products such as Gold Roast, Calsome, Royal Myanmar Tea and Café 21 brands across China and Southeast Asian countries. The company distributes over 10 brands in the two regions. It has around 1,300 employees with manufacturing facilities and operations in China and Myanmar.

The company registered sales of S$170 million for the 12-month ended June 30, 2020. China is the largest market for Viz Branz accounting for a revenue contribution of over 65 per cent.

The Gold Roast brand enjoys a 35 per cent market share in the instant cereal segment in Southern China, which has a population of over 220 million. China’s cereals market is worth over $1 billion and it is expected to continue growing around 7 per cent per year to reach $1.4 billion by 2024.

In April 2020, Investcorp announced the first close at $275 million for its Asia food brands private equity platform, Asia Food Growth Fund I. The fund was jointly set up by Investcorp, China Resources and Fung Strategic Holdings Limited, a member of Fung Investments, the private investment arm of the families of Victor and William Fung, according to the firm’s press statement.

Investcorp Group has $32.2 billion in total AUM that includes assets managed by third-party managers.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.