Creador, a Malaysia-based private equity firm in South and Southeast Asia, has announced the acquisition of up to 13 percent in FPT Long Chau Investment JSC (Long Chau), one of Vietnam’s leading pharmacy chains.
This marks the first ever fundraise by Long Chau and the second investment made in Vietnam by Creador, Creador said in a statement on last Friday.
Long Chau has grown from four stores in 2017 to over 2,000 pharmacies and over 140 vaccination centers in Vietnam today.
It is the only profitable national chain with presence across all 63 provinces.
This rapid growth was driven by a highly visionary management team with deep retail
experience, building trust with the Vietnamese consumers through quality offerings, a broad range of products, and price leadership in a general-trade dominant market.
A highly innovative management team with extensive retail experience was responsible for this quick expansion. They gained the trust of Vietnamese customers by providing high-quality products, a wide selection, and competitive pricing in a market dominated by general trade.
Making its 59th investment since its founding, this investment represents a major turning point for Creador and reaffirms its dedication to Vietnam’s rapidly expanding healthcare sector.
After gaining ten years of experience in the pharmacy retail sector, this is also its second investment in Southeast Asia.
“We are pleased to welcome Creador as a key partner in our growth journey,
“This partnership not only provides Long Chau with additional resources but also offers an opportunity to gain international experience, enhancing the quality of our products and services in a transparent and sustainable way, and contributing to the improvement of public health in Vietnam,” said Nguyen Bach Diep, Chairperson of FPT Retail and General Director of Long Chau Investment.
Few companies, according to Brahmal Vasudevan, CEO and founder of Creador, are able to match Long Chau’s national reach, strong community presence, and trusted brand.
“Long Chau stands at the forefront of making healthcare accessible and affordable for all,
“We are proud to support this mission and be part of Long Chau’s continued impact and growth,” he added.
FPT Digital Retail Joint Stock Company (“FPT Retail”), one of the top multi-category retail platforms in Vietnam, owns Long Chau as a subsidiary.
Following the deal, FPT Retail will continue to own the majority of Long Chau’s shares.
Private equity firm Creador is committed to collaborating with expansion-oriented companies in India and Southeast Asia.
Creador has raised $3.1 billion since its founding from a wide range of international investors, including well-known companies, foundations, family offices, and institutions.
