Customers shop at a Bach Hoa Xanh store in HCM City. (Photo: VNA) According to the initial plan, Bach Hoa Xanh had aimed to sell amaximum of 20% of its capital. However, the company has stated that due topositive cash flow and improved business performance, there is no longer a needto proceed with the sale as initially planned.
The value of the deal was not disclosed, but it mentioned that thefunds would be utilised for operational activities and business expansion.
Bach Hoa Xanh is a retail chain specialising in food and essentialconsumer goods, operating under MWG.
Established in 2015, the chain was expectedto generate billion-dollar revenues and lead the domesticconsumer retail sector. However, in its early stages, the company experiencedcontinuous losses, accumulating a total of 8.3 trillion VND (332.6 million USD)in losses by the end of the previous year.
However, in the first two months of the year, Bach Hoa Xanhexperienced the highest growth rate among the Mobile World systems. The chainachieved a revenue of nearly 6.1 trillion VND, up 47% year-on-year.
Despite operating for fewer days in February due to the Lunar NewYear holiday, each Bach Hoa Xanh store generated an average revenue of 1.8billion VND. With the impressive performance, the chain has successfullyreached its expected breakeven point as planned.
Meanwhile, CDH Investment, established in 2022 and headquarteredin Beijing, is among the first private equity fund management firms in China.It is well-known for its involvement in traditional sectors such as consumergoods and manufacturing. With over 27 billion USD in assets under management,the firm has invested in more than 350 companies across various industries./.
VNA
