Shasu Invest

Consumer, travel and leisure M&A in Vietnam

Vietnam’s domestic consumption and outbound and inbound tourism are growing together. Listings include tour operators and OTAs, airline agents, a leisure complex, sportswear and F&B-related businesses, with strategic buyers from Japan active in the same space.

Companies for sale

  1. SI-028

    Riverside Spa and Restaurant Complex, Central Vietnam

    Central Vietnam cityConsumer, Travel & Leisure

    Twelve-year-old leisure complex on a rare riverside site, with 150 staff and net margins of about 30%.

    RevenueUS$1.6MVND 42bn
    AskingNegotiable
    StakeFlexible
  2. SI-029

    Integrated Marketing and Events Agency, Ho Chi Minh City

    Ho Chi Minh CityConsumer, Travel & Leisure

    Eleven-year events and brand-activation agency with TVC and 3D production and KOL booking, raising capital for working capital and technology.

    RevenueUS$2.4MVND 60bn
    AskingNot disclosed
    StakeFlexible
  3. SI-030

    Air Ticket, Visa and Travel Agency, Ho Chi Minh City

    Ho Chi Minh CityConsumer, Travel & Leisure

    Highly automated tier-1 airline agent with a lean 30-person team and 100,000+ customers served.

    RevenueUS$2.7MVND 70bn
    AskingNegotiable
    Stake30–100%
  4. SI-031

    Women's Sportswear Brand, Top 3 on E-Commerce, Ho Chi Minh City

    Ho Chi Minh CityConsumer, Travel & Leisure

    Direct-to-consumer women's sportswear brand ranked among the top three on major Vietnamese marketplaces.

    RevenueUS$2MVND 50bn
    AskingNegotiable
    Stake100%
  5. SI-033

    International Tour Operator and Online Booking Company

    Ho Chi Minh City / nationwideConsumer, Travel & Leisure

    Large tour operator with its own ERP and online booking infrastructure and strong airline partnerships.

    RevenueUS$8.5MVND 218bn
    AskingNot disclosed
    StakeFlexible

Buyer mandates

  1. BM-03

    Vietnamese Media-Backed Holding Group Seeks Consumer Businesses

    VietnamStrategic buyerConsumer, Travel & Leisure

    Investment holding group with the country’s largest media ecosystem taking minority stakes below 40% in consumer businesses.

    Min. revenue—
    Ticket—
    StakeUp to 40%
  2. BM-18

    Japanese Strategic Investor: Tourism, Hospitality and Inbound Travel

    JapanStrategic buyerConsumer, Travel & Leisure

    Strategic Japanese investor scouting M&A in tourism and hospitality in Vietnam and ASEAN.

    Min. revenue≥ US$5M
    Ticket—
    StakeFlexible
  3. BM-21

    Tokyo-Listed Travel-Tech Group Seeks Travel Agencies and OTAs

    JapanStrategic buyerConsumer, Travel & Leisure

    Tokyo-listed OTA and travel-technology group seeking controlling stakes in Vietnamese travel businesses.

    Min. revenue≥ US$4M
    Ticket—
    Stake51–100%
  4. BM-26

    Tokyo-Listed Travel Media Group Seeks Travel Guides and Hospitality Marketing Agencies

    JapanStrategic buyerConsumer, Travel & Leisure

    Japanese travel media and technology group acquiring review sites, booking apps and hospitality content agencies.

    Min. revenue≥ US$3M
    Ticket—
    Stake80–100%
  5. BM-33

    Japanese Airline-Affiliated Retail Group Seeks Food, Retail and Cold Chain (80–100%)

    JapanStrategic buyerConsumer, Travel & Leisure

    Retail, trading and airline-services group with airport stores and food distribution.

    Min. revenue≥ US$8M
    Ticket—
    Stake80–100%

Points to check

  • Check airline and supplier contracts and whether they survive a change of control.
  • Review customer data ownership and platform source-code ownership.
  • For leisure assets, separate property value from operating value.

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