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The Japanese Ministry of Economy, Trade and Industry’s Cool Japan Fund has been identified as the largest of new stakeholders in the Vietnam-headquartered Pizza 4P’s.
Cool Japan Fund has acquired the minority stake sold by Vietnam equity investor Mekong Capital for $10 million.
Several smaller investors also participated in the equity purchase.
Cool Japan Fund cofounder Yosuke Masuko said they want to continue pursuing international growth ambitions.
The acquisition was purely a share sale and did not include the injection of any new capital into the business; it was purely a share sale.
In a statement, Cool Japan Fund said it would help create a platform for Japanese ingredient manufacturers and breweries to expand overseas, especially in Vietnam, and “spread the word about Japanese food culture”.
Cool Japan Fund described Vietnam as an attractive market, with a population of nearly 100 million people, a youthful population with an average age of 31, and stable economic growth.
Additionally, Vietnam is friendly with Japan and has a penchant for Japanese food culture.
Cool Japan Fund has increased its investment in Vietnamese logistics company CLK Cold Storage to help it transport meat, fresh food, sake, and other goods to Vietnam.
With 27 restaurants in Vietnam and Cambodia and Pizza 4P’s developed an FMCG product range, including frozen pizzas and pasta, handmade cheeses, and condiments, available through supermarkets and convenience stores.
