VnExpress News The News Gateway of Vietnam
Private equity firm Mekong Capital announced that its Mekong Enterprise Fund III has divested its stake in Pizza 4P’s, a chain of Japanese-owned pizza restaurants.
Tokyo-based Cool Japan Fund will invest US$10 million in 4P’s Holdings Pte. Ltd., which operates Pizza 4P’s and produces cheese and other dairy products.
The chain was established in 2011 by Japanese couple Yosuke Masuko and Sanae Takasugi. After Mekong invested in it in 2018, the chain grew from eight to 27 restaurants in Vietnam and Cambodia.
It had posted losses of VND20.8 billion ($838,668) in 2020 and VND39.7 billion in 2021 due to the impact of Covid-19.
Before the pandemic it had reported profits of over VND50 billion in 2018 and 2019.
Launched in 2015, MEF III currently has investments of $112.5 million.
It is currently backing seven companies: cold storage supply chain ABA Cooltrans, restaurant operator Red Wok, consumer loan provider F88, Nhat Tin Logistics, English teaching institute YOLA, mattress company Vua Nem, and pharmacy chain Pharmacity.
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