Masan Group completed the acquisition of a 31% stake in Phuc Long for $110m.

Masan Group, an investment holding company that is involved in manufacturing and distributing food products and beverages, completed the acquisition of a 31% stake in Phuc Long, a Vietnamese coffee shop, for $110m. "We have solidified our offline mini-mall concept and are ready to expand nationwide, but the next wave is to transform The CrownX into a consumer-tech platform. 2022 will be the year we digitalize our platform into an integrated system from manufacturing, logistics, distribution all the way up to 100m consumers," Nguyen Dang Quang, Masan Group Chairman.