Pangasius giant Vinh Hoan is aiming to build itself as "food provider," one of its shareholders, French investment fund, Red River Holding, told IntraFish.
With a recent slump in the pangasius industry, Vinh Hoan is diversifying into rice production because it already possesses the agricultural know-how to expand in that area, said Jean-Eric Jacquemin, chief executive officer of Jade River Management, the fund manager of Red River.
Red River, the second largest shareholder in Vinh Hoan with a 15.2 percent stake, sees a "tremendous" growth in this diversification effort, as there are many synergies in terms of market access, he said.
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