Ultra bilyonaryo Tony Tan Caktiong could see a big spike in the value of his investments in SuperFoods Group if the rumored sale of a minority stake in its Vietnam-based coffee chain gets done.
Reuters reported Tan Caktiong’s Jollibee Foods Corp. (JFC) was in negotiations to sell 10 percent to 15 percent of its stake Highlands Coffee.
The sale could value Highlands Coffee at $800 million.
This could lead to massive revaluation gains for JFC which bought its 60 percent stake in SuperFoods, owner of Highlands Coffee, for $72 million.
SuperFoods currently runs 562 Highlands Coffee or ten times more than its branch network when Tan Caktiong bought an initial 50 percent stake 10 years ago.
SuperFoods also owns Pho24 Vietnam noodle store which has 30 branches; and Hard Rock Cafe franchises in Vietnam, Macau and Hong Kong.
SuperFoods lost P505 million on P4 billion revenues in 2021, up from P312 million loss on P5.7 billion revenues in 2019.