European investment fund values 'pepper king' Phuc Sinh at $320 mln: exec
A European investment fund has invested in and valued “pepper king” Phuc Sinh Group at $320 million, said its chairman Phan Minh Thong.
“This is the first time Phuc Sinh has received foreign investment after 22 years of operation,” he added, refusing to disclose the name of the foreign investor and the amount of investment.

Phuc Sinh Group's workers pack pepper products. Photo courtesy of the group.
According to Thong, capital is currently not a big problem for Phuc Sinh because it has received interest rate support from banks as well as recorded profits from domestic business activities and exports.
“Phuc Sinh only receives investment from units with fair evaluations of Vietnam’s businesses and agricultural industry plus a vision and direction suitable for the company,” he affirmed.
ESG (environmental, social and corporate governance) is the first criterion for the European investment fund to cooperate with Phuc Sinh, he said, adding this is also a prerequisite for Phuc Sinh to accept investment that meets its goals for sustainable development.
Although the investment value was not disclosed, the Phuc Sinh representative said that his group will use this sum to invest in improving and upgrading production factories as well as expanding business premises of the K Coffee system.
This year, Phuc Sinh plans to build two large coffee factories to serve production and processing and increase its K Coffee stores from the current 10 to 100 stores across the country, he stated.
Improving stature of Vietnamese agriculture
According to Phuc Sinh's chairman, agribusinesses in Southeast Asian countries such as Thailand, Malaysia, Indonesia, and even the Philippines are currently highly valued. Meanwhile, those in Vietnam, a world agricultural base, are underestimated.
"I feel very encouraged as Phuc Sinh is valued at $320 million. More importantly, when talking to this investment fund, they said that Vietnamese agricultural companies have not been evaluated properly," Thong said.
According to the Vietnam Pepper and Spice Association, Phuc Sinh was the largest pepper exporter to the EU market in 2023 with a market share of 15.1%. In particular, its member unit, Phan Minh Thong Company, was named in the top 20 spice exporters to the European market in 2023.
The combined market share of Phuc Sinh Group and Phan Minh Thong Company in Europe reached 16.5% last year.
To receive good valuations from investment funds, Thong said that Vietnamese companies must improve so that investors can see their strengths, transparency, and sustainable development.
“We need them to stop comparing us with just the Southeast Asia market, but also choose us for their international cooperation,” he noted.
In fact, very few Vietnamese agricultural companies have received capital from foreign enterprises, but now the entire industry is growing and transforming rapidly. Therefore, Thong emphasized that cooperation with foreign partners is a good trend that businesses need to grasp to develop further, because after the pandemic, Vietnam has emerged as a food provider to many places around the world.
"With Vietnam’s signing of many free trade agreements, creating conditions for foreign investors in the country, plus tax incentives and labor advantages, I think there will be a big wave of investment in the local agricultural industry," he predicted.
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