Mekong Capital invests in chemical distributor
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Fund manager Mekong Capital announced last Thursday that its Mekong Enterprise Fund II paid US$3.4 million to pick up an unspecified stake in Asia Chemical Corporation, a leading Vietnamese chemical distributor.
ACC is one of the biggest distributors of ingredients, chemicals, and other materials for industries like food and beverage, pharmaceuticals, feed, confectionary, veterinary, personal care, and cosmetics.
The HCMC-based firm imports chemicals from 300 suppliers around the world and distributes to more than 1300 customers nationwide.
The US$50 million Mekong Enterprise Fund II has made ten investments and divested stakes in two of them since its founding in 2006. It focuses on unlisted companies in Vietnam, particularly fast-growing companies in the fast moving consumer goods category.
