SCG Packaging, a Thai company, has successfully acquired a 70% ownership stake in Starprint Vietnam JSC, a leading printed carton packaging company in Vietnam, for VND676 billion (US$27.88 million).
This transaction, completed by SCG Group’s subsidiary this week, values Starprint at VND965 billion.
Wichan Jitpukdee, CEO of SCG Packaging, expressed that this deal would facilitate the expansion of his company’s presence in an industry with significant growth potential, enabling broader reach to customers in Southeast Asia.
Another Thai company, Starflex, is slated to acquire a 25% stake in Starprint.
Established in 2001, Starprint has emerged as a key producer of offset printed cardboard packaging in Vietnam, manufacturing 16,500 tons of cartons and eight million boxes across its two facilities in the southern province of Dong Nai.
Noteworthy clients of Starprint include Unilever, Colgate, Nestle, and Heineken.
The company reported revenues of VND1.01 trillion last year, with post-tax profits amounting to VND92.5 billion.
SCG Group has been actively acquiring stakes in Vietnamese packaging companies in recent years, particularly since 2020. Notable acquisitions include Bien Hoa Packaging in December 2020 and a 70% stake in Duy Tan Plastic in February 2021. Additionally, SCG Group owns Kraft Vina, one of Vietnam’s largest packaging firms.
