Hasfarm Holdings, a Vietnamese floriculture company, received a strategic equity investment from TPG to enhance its operations and expand its market presence.

Target Information

Hasfarm Holdings, a leading player in the Asian floriculture sector, has recently secured an equity investment from the private equity firm TPG. Established in 1992 in Da Lat, Vietnam, Hasfarm has developed a robust operation, distributing temperate flowers across multiple Asian markets. The company boasts production facilities in Vietnam, China, and Indonesia, and employs a vertically integrated model that incorporates both online and offline retail channels. Furthermore, Hasfarm has expanded its offerings to include greenhouse horticulture and clean vegetables, alongside its existing flower distribution networks.

Industry Overview in Vietnam

The Vietnamese market has shown significant growth in various sectors, with total transactions amounting to approximately USD 274 million in January 2025. This notable activity reflects the country's growing appeal as an investment destination, particularly in the Consumer & Retail, Energy & Utilities, and Healthcare & Life Science sectors. The Consumer & Retail sector, represented by Hasfarm, is thriving due to increasing domestic consumption and an expanding middle class.

In addition, the Energy & Utilities sector is dynamic, marked by CME Solar's recent funding of USD 20 million from the Emerging Africa & Asia Fund (EAAIF). This investment highlights