Singapore instant beverage maker Viz Branz has attracted buyer interest from several private equity firms, according to sources familiar with the matter.

L Catterton and FountainVest showed initial interest in bidding, several sources said. Two other sources also named Nexus Point as among the potential buyers circling the asset.

As reported by this news service on 29 April, the Investcorp consortium has initiated a sale process for its majority stake in Viz Branz, appointing Barclays as the new advisor. The firm had earlier engaged Jefferies to assist with a sale, but the sale efforts did not go as planned, as reported.

Investcorp holds its stake in Viz Branz through the Asia Food Growth Fund I, a joint venture between Investcorp, China Resources Holdings’ CR Capital, and Fung Strategic Holdings, a unit of Fung Group. The consortium had acquired a 51% majority interest in November 2020 from then-CEO Ben Chng. Viz Branz had an enterprise value of SGD 500m (USD 375m), the then Investcorp’s co-CEO Hazem Ben-Gacem told this news service in a December 2020 interview.

Founded in 1988, Viz Branz is a manufacturer and distributor of coffee, instant beverages, tea, and snacks. Its portfolio includes brands such as Gold Roast, Cafe 21, Calsome, Fibro, Royal Myanmar Tea, and Be-Be Crackers.

The company has built a pan-Asian presence, with operations across Malaysia, Indonesia, the Philippines, Vietnam, Cambodia, Myanmar, and China. Its integrated supply chain is supported by manufacturing facilities in Singapore, Myanmar, and China, according to its website.

Investcorp declined to comment. Barclays, FountainVest, L Catterton, Nexus Point and Viz Branz didn’t reply to request for comment.