SCPE invests $90m in Vietnam agribusiness player

AGPPS is the country's largest distributor of plant protection chemicals and the largest distributor of rice seeds. It is also building a presence in rice aggregation and processing. The new capital will be used to support business planning and development.

"We are extremely pleased to be an investor in one of Vietnam's flagship enterprises," Bert Kwan, head of Southeast Asia ex-Indonesia at SCPE. "We are privileged to support AGPPS's laudable mission of bringing to the market commercially sound products and services that bolster the profitability of the Vietnamese rice value chain, while raising the standard of living for potentially millions of farmers."

The investment follows a nine-month due diligence process.

SCPE's previous investment in Vietnam involved the acquisition of a minority interest in restaurant operator Golden Gate for $35 million. The investment has allowed existing backer Mekong Capital to make a full exit with a net multiple of 9.1x.

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• Topics
• Expansion
• Southeast Asia
• Industrials
• Agriculture
• Vietnam
• Southeast Asia
• Standard Chartered Private Equity