Funds managed by UOB Venture Management (UOBVM), the private equity arm of Singapore-based bank UOB, has invested in Bien Hoa Consumer Joint Stock Company (BHC) to acquire a 12% stake, becoming a substantial shareholder, according to an announcement.
This investment marks a pivotal step in BHC’s growth strategy as the company accelerates towards its planned IPO, while ramping up the distribution of clean and green products across domestic and international markets.
Leveraging this new capital from UOBVM managed funds, BHC plans to invest in building a state-of-the-art food and beverage manufacturing facility to enhance production capacity, continually meet international standards and expand its portfolio, particularly in the segment of naturally sourced nutritional products.
BHC is a core subsidiary of TTC AgriS, a Ho Chi Minh City Stock Exchange-listed company. The company operates a robust multi-channel distribution network (B2B2C2E), with nearly 2,000 business clients, more than 100,000 points of sale and e-commerce platforms. BHC’s products have reached 69 countries, catering to global brands such as Coca-Cola, Pepsi, Nestlé, Masan, Vinamilk, and more.
UOB Venture Management’s CEO Seah Kian Wee, stated, “We greatly appreciate BHC’s capabilities in developing clean, green, and natural product lines that align with fast-emerging consumer trends across the ASEAN region, with over 600 million people…. Their model aligns perfectly with UOBVM’s philosophy of long-term investment and sustainable development. We look forward to working alongside AgriS not only as a capital partner but also by supporting the implementation of supply chain finance solutions, expanding distribution networks, and preparing for strategic milestones such as a future IPO.”
UOBVM is a wholly owned subsidiary of United Overseas Bank Limited (UOB), one of Asia’s leading banking and financial services groups, with over 20 years of presence in the Vietnamese market. As part of its strategic push to expand financial investments across Southeast Asia, UOBVM has identified Vietnam as a key growth market, with Ho Chi Minh City expected to play a central role as a regional financial hub in the coming years.
The partnership will focus on deploying supply chain finance solutions across the entire agricultural value chain, aiming to optimise financial resources and drive long-term, sustainable growth across BHC’s operations – from production to distribution.
In Vietnam, UOBVM has invested in one of the leading manufacturer and distributer of food and beverages Masan Consumer, privately owned hydro and solar power company Bitexco Power, privately-owned media company DatVietVAC.
In the technology sector, UOBVM led the $33.5 million in a Series B funding round in healthtech company Buymed in 2023. Subsequently, Buymed raised an $18-million equity investment from the US International Development Finance Corporation.
Other companies include Vietnamese clean energy startup Stride, AI-based English learning app ELSA.
Most recently, UOB announced that it will increase its charter capital of its Vietnam subsidiary to VND10 trillion (S$520 million). The fresh capital injection into UOB Vietnam of VND2 trillion is currently under review by the State Bank of Vietnam.
