ICP BECOME THUAN PHAT’S MAJOR SHAREHOLDER
Ho Chi Minh City - June 26, 2009. Today, The International Consumer Products Corporation (ICP) and Thuan Phat Foodstuff Joint Stock Company (Thuan Phat) officially announced their partnership agreement. Under the agreement, ICP became Thuan Phat’s shareholder with 51% ownership.
Established 27 years ago, Thuan Phat is one of the leading commercial names in sauces, seasoning and food in Vietnam with 10 categories and 80 different kinds of products. Not only available in the domestic market, Thuan Phat’s products are also exported to other countries in the region.
Thuan Phat expects to become one of the three leading companies in sauces, seasoning and processed food in Vietnam. For additional resources and strengths, Thuan Phat decided to choose ICP as their major partner.
With their current advantage in developing convenient, safe and delicious products using modern production technology, through this partnership, Thuan Phat will make use of ICP’s large distribution system. Besides, ICP will support Thuan Phat to develop a modern management system, improve professional marketing and selling skills, and reinforce highly-qualified human resource.
Mr. Le Trung Thanh, ICP’s President and CEO said, “Becoming Thuan Phat’s major shareholder, ICP officially entered the food industry, which has been a promising market. We have developed a transparent and modern management system, a large distribution system and professional marketing expertise. These advantages will help Thuan Phat reach a new level of development”.
“By combining the advantages and prestige of both companies in the market, we hope that this partnership will promote our trademark’s value and strengthen our long-term competitive advantage.” said Ms. Truong Lan Anh, Chairwoman cum CEO of Thuan Phat. “Both companies share many things in common such as strategic background, business philosophy as well as target customer base. This partnership definitely is the best, bringing about the biggest synergy.”
About Thuan Phat Foodstuff Joint Stock Company
Thuan Phat Foodstuff Joint Stock Company, charter capital 30 billion VND, was originally Thuan Phat Co-operative established 27 years ago. With more than 200 employees, Thuan Phat has a main 5.262 m2 factory in Le Minh Xuan Industrial Zone, Binh Chanh and two fish sauces processing houses in Phu Quoc. Thuan Phat is currently the leading brand in 10 product categories of 80 different kinds especially in fermented tofu, Thai hotspot sauces, anchovy fish paste, and hot chili paste.
ICP currently operates in four categories including home care, personal care, cosmetics, food and beverage. Since its foundation in 2001, ICP is consistent in its mission to develop and create products that enrich the quality of life of its consumers. Some of ICP’s popular brands include Vegy, Ocleen, X-men, dr.men, Teen-X, L’OVITÉ, QGIR, XTRA, TEAFRES, etc. At the moment, the company is among Top 3 shampoo marketers in Vietnam. In 2008, ICP’s growth rate is approximately 30% comparing to 2007 and is currently in partnership with Mekong Enterprise Fund II managed by Mekong Capital and Private Equity New Market (PENM) managed by BankInvest Group. For more information about ICP, please visit www.icpvn.com
For more information, please contact:
International Consumer Products Corporation
Ms. Nguyen Thu Ha
Ms. Quynh Huong