GMA News Online

IP Ventures, Viet Thai sign deal on Highlands Coffee outlets in PHL

October 27, 2011 3:46pm
Investment firm IP Ventures Inc. on Thursday said it signed franchise rights deal with Vietnam’s Viet Thai International to operate coffee shops in the brand name Highlands Coffee in the Philippines.

The deal was signed during the Philippine-Vietnam business forum at the Sofitel in Pasay City. Vietnam President Truong Tan Sang and other officials witnessed the signing. The forum was part of President Sang’s state visit to the Philippines.

Privately held Viet Thai is a leading domestic consumer marketing and multi-unit retail firm in Vietnam, with Highlands Coffee its foundation brand and the cornerstone of its platform to bring international retail experiences to its patrons, according to a joint statement released Thursday.

Publicly listed IP Ventures serves as a holding company for IP E-Game Ventures Inc., IP Converge Data Center Inc., and operates i-Pay Commerce Ventures Inc., a direct agent of Western Union in the Philippines.

"There is a strong fit and synergy between our two companies, and this collaboration is truly value creating," said IP Ventures CEO Enrique Gonzalez. — VS, GMA News
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