Saigon Asset Management (SAM) will wholly acquire shares of Heritage Beverage Corporation (HBC) in an all-cash transaction, SAM said in a press release, without unveiling the value of the deal.
With this transaction, SAM will be investing in selling the No. 1 beer in Vietnam in North America. The acquisition also enables SAM to introduce its Vietnamese F&B product portfolio into the U.S. and Canada, securing long-term access to distribution and retail channels at lower cost.
“The acquisition will be ideally positioned to capture the growth opportunities created by the rapidly evolving import beer industry in the U.S. and Canada,” said SAM Chairman and Chief Executive Officer Louis Nguyen.
Founded in 2007, SAM now manages two Vietnam-focused investment funds namely Vietnam Equity Holding (VEH) and Vietnam Property Holding (VPH). Since 2007, VEH and VPH have deployed over $250 million in over 45 companies and projects in Vietnam.
Heritage Beverage is the exclusive U.S. and Canada distributor of Saigon beers, products of Saigon Beer Corporation (SABECO), the largest beer producer in Vietnam.