Bain Capital commits to investing a minimum of 200 million USD to accompany Masan

The proceeds from this Transaction will be used to enhance Masan's financial position and optimize its balance sheet. This Transaction marks Bain Capital's first investment project in Vietnam, demonstrating the investor's confidence in the growth story of the consumer market in Vietnam, as well as Masan's ability to capitalize on the opportunity to serve 100 million domestic consumers with a wide range of daily basic needs to financial products and services.

Consumer shopping for MEATdeli fresh meat

Regarding this Transaction, Mr. Danny Le, CEO of Masan Group, stated, "In the face of numerous challenges in the consumer market, Masan continues to invest in existing platforms and relentlessly innovate to be ready when the consumer market recovers. We aim to become a profit multiplier in the 'golden era' of the consumer story in Vietnam. This collaboration with Bain Capital is a recognition of our efforts over time. Masan has consistently implemented initiatives, focusing on investing in consumers to capture 80% of consumer spending share. We look forward to working with Bain Capital to accelerate this vision, becoming a platform that meets the daily needs of consumers."

Mr. Barnaby Lyons, a leader at Bain Capital, shared, "We are delighted to collaborate with Masan on this strategic investment project in Vietnam. We believe that Masan has strong foundations, vision, and a growth strategy that aligns with success in an attractive and high-growth consumer market. Masan is one of the most reputable brands in Vietnam, with the ability to anticipate consumer trends and meet these needs through its innovative products and breakthrough systems. We see this as a promising investment opportunity, given Masan's continuous growth and leadership led by top executives."

CHIN SU booth at the Ho Chi Minh City export fair

From 2022 to 2040, Vietnam is expected to be the fastest-growing consumer market in Southeast Asia, with an estimated annual growth rate of 7.7%. This impressive growth is driven by rapid urbanization, the explosion of high-income consumer segments, and increasingly diverse demands beyond basic needs, focusing on lifestyle experiences and financial matters. As a leader in the Vietnamese consumer market, Masan is transforming from a branded consumer goods manufacturing company into a retail-focused consumer platform, aiming for continuous growth throughout the consumer value chain. Specifically, Masan identifies sustainable growth trends in the future:

• Premiumization of products with innovations and health-oriented innovations as the focus in Masan Consumer Holdings' fast-moving consumer goods segment.
• Shift from unbranded products to high-quality branded meat products provided by Masan MEATLife.
• Transition from traditional retail to modern retail, accelerated by the WinCommerce retail platform.
• The WIN Member program, Masan's central platform, which has connected brands and consumers, now has 7 million members, with the goal of reaching 10 million by the end of this year and 30 million by 2025. The WIN Member program is a platform that helps Masan better serve Vietnamese consumers with personalized products and services, playing a crucial role in the company's business activities.

Consumers shopping for fresh

Masan expects the Transaction to be completed in 2023 and will continue to seek other strategic equity capital solutions, including reducing its stake in non-core business areas, increasing liquidity, and achieving sustainable net debt-to-EBITDA ratios below 3.5x in the long term.

Bain Capital has extensive experience in investing to support the growth and management of many consumer retail groups in Asia, including investments in companies such as Schwan and Carver Korea.

Jefferies Singapore Limited serves as the financial advisor to Masan Group in this Transaction. The Transaction is subject to appropriate approvals under the company's bylaws and current legal regulations.