25/12/2025
Newsletter
The Vietnamese deal landscape in December 2025 remained firmly active, underpinned by large-scale strategic M&A in consumer distribution and industrial manufacturing, alongside continued capital formation across technology, healthcare, renewable energy, and environmental infrastructure platforms.
Aggregate disclosed deal value reached c. USD1.13b, anchored by mega-ticket control transactions in modern trade and consumer distribution, while Korean and Japanese strategic investors remained dominant across manufacturing and infrastructure assets.
In parallel, venture and growth capital continued to deploy into fintech, insurtech, healthtech, and precision manufacturing platforms, highlighting sustained confidence in structurally growing verticals despite a selective investment environment.
Nutifood acquires minority stake in KIDO Frozen Food
Nutifood Nutrition Food JSC acquired an additional minority stake in KIDO Frozen Foods JSC from KIDO Group in a transaction valued at c. USD95.1 million, strengthening consolidation within Vietnam’s branded frozen foods and ice-cream segment.
Article link: Nutifood acquires minority stake in KIDO Frozen Foods
PICO Holdings acquires NKT New Solution from Central Retail
PICO Holdings JSC acquired NKT New Solution and Technology Development Investment JSC from Nguyen Kim Trading JSC in a transaction valued at c. USD36 million, reinforcing its electronics and consumer retail ecosystem.
Article link: Central Retail refocuses Vietnam strategy with Nguyen Kim exit
Rikkeisoft makes strategic investment in Entropy
Rikkeisoft Corporation completed a strategic investment in Entropy Ltd., supporting international delivery expansion and strengthening near-shore capabilities for U.S. and European enterprise clients. The transaction value was not disclosed.
Article link: Rikkeisoft makes strategic investment in Entropy
Saladin closes Series A funding round
Vietnamese insurtech Saladin completed a Series A funding round backed by Kyobo Securities, Peak XV, NTUitive, SBI Ven Capital, Monk’s Hill Ventures, Digital Innovation Fund and ICMG Holdings, supporting expansion of its digital insurance brokerage platform. The transaction value was not disclosed.
Article link: Saladin closes Series A funding round
HITC and Evolution Data Centres launch joint venture to develop large‑scale data centres in Vietnam
HITC International Telecommunication JSC (HITC) and Evolution Data Centres (Evolution) have established a joint venture to deliver AI and hyperscale data centre infrastructure in Ho Chi Minh City and Hanoi, combining Evolution’s hyperscale development expertise with HITC’s strong local telecommunications and data centre presence to meet rising demand for sustainable digital infrastructure across Vietnam’s fastest‑growing digital markets.
The partnership will initially focus on two flagship projects — an expansion of the EcoDC Data Centre in Hoa Lac Hi‑Tech Park, Hanoi, and a new, large‑scale hyperscale data centre in Ho Chi Minh City — with an emphasis on high‑performance, sustainable facilities leveraging local renewable energy resources.
Article link: HITC and Evolution Data Centres launch joint venture to develop large‑scale data centres in Vietnam
DKSH to acquire Biomedic Science Material
DKSH Holding AG signed an agreement to acquire Biomedic Science Material Joint Stock Company, strengthening its scientific solutions and diagnostics distribution footprint in Vietnam. Transaction value was not disclosed.
Article link: DKSH to acquire Biomedic Science Material
VINACONEX acquires Vietnam Water and Environment Investment Corporation
Vietnam Construction and Import-Export JSC (VINACONEX) acquired 100% of Vietnam Water and Environment Investment Corporation in a transaction valued at c. USD59.4 million, expanding its environmental infrastructure and water treatment portfolio.
Article link: VINACONEX acquires Vietnam Water and Environment Investment Corporation
HS Hyosung Advanced Materials increases stake in HS Hyosung Vietnam
HS Hyosung Advanced Materials acquired an additional minority stake in HS Hyosung Vietnam Co., Ltd. in a transaction valued at c. USD179.8 million, strengthening its Vietnam manufacturing base.
Article link: HS Hyosung Advanced Materials increases stake in HS Hyosung Vietnam
Kokuyo acquires control of Thien Long An Thinh Investment
Kokuyo Co., Ltd. acquired full ownership of Thien Long An Thinh Investment JSC, strengthening its control over Vietnam’s leading stationery and education supplies ecosystem. The transaction value was not disclosed.
Article link: Kokuyo acquires control of Thien Long An Thinh Investment
Note: (1) Deal values include disclosed announced & closed deals with amounts restricted to the local scene i.e., amounts related to the Vietnam entity and/or business. Rumored deals are not included. Cross-posted deals are also adjusted to avoid double counting.