Mitsui & Co., Ltd. (“Mitsui”, Head Office: Tokyo, President and CEO: Kenichi Hori) has agreed to participate as a partner in a fund managed by Tower Capital Asia Pte. Ltd. (“Tower Capital Asia”), a private equity firm based in Singapore that has led groundbreaking investments in the privatisation and/or buyout of iconic Southeast Asian businesses. The fund invests in Eu Yan Sang International Ltd. (“EYSI”, Head Office: Singapore), a leading consumer healthcare brand in Asia, specialising in Traditional Chinese Medicine (“TCM”), as a key partner in a consortium holding a majority shareholding in EYSI. Mitsui has concluded related agreements including a business collaboration agreement with EYSI, aimed at driving mutually beneficial business collaboration and value enhancing projects. Through this collaboration, Mitsui intends to partner with EYSI and create value by leveraging Mitsui’s diverse network of strategic assets.
Founded in 1879, EYSI is a leading integrative health and wellness company with a unique heritage in TCM that operates over 170 retail outlets and 30 TCM clinics mainly in Singapore, Hong Kong, and Malaysia. EYSI is one of the largest TCM groups in Southeast Asia with a strong emphasis on customer service, product quality, manufacturing excellence and scientific innovation, EYSI develops and sells an extensive lineup of TCM products, ranging from medicines to wellness-related products.
In 2018, Mitsui invested in Thorne HealthTech Inc. (“Thorne”), an American manufacturer and supplier of advanced functional supplements. Since then, Mitsui has worked to build a science-based, individualized solutions business for pre-symptomatic conditions. Recently, Mitsui and Thorne jointly established a business entity in Singapore.
Mitsui has positioned Healthcare and Nutrition as one of the strategic domains under its Medium-term Management Plan 2023. Under the “Wellness All Mitsui” (WAM) approach, Mitsui is developing a group-wide healthcare business cluster. This investment is one of the WAM initiatives toward the provision of evidence-based scientific solutions, and Mitsui will further accelerate its Asia-centered initiatives in the wellness domain.
Eu Yan Sang: Retail Outlet
TCM Products ranging from medicines to wellness-related products
Mitsui & Co. Ltd. published this content on 21 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 November 2022 05:08:07 UTC.