Food acquisition news : Vietnam Dairy Products Joint Stock Company better known as Vinamilk has bagged an equity investment of $616.6 million from Singapore-based Jardine Cycle and Carriage in return of a stake of 5.53% in the Vietnamese dairy producer.
The equity investment in Vinamilk by Jardine Cycle and Carriage was done through the latter’s subsidiary Platinum Victory. Vinamilk secured the new investment through an auction conducted by State Capital Investment Commission of Vietnam (SCIC), its largest stakeholder.
Headquartered in Ho Chi Minh City, Vinamilk is easily a leading dairy company in Vietnam with a market share of about 58% in the Southeast Asian country, as per dairy industry news updates.
Vinamilk was originally named as Vietnam Milk Company to Vietnam Dairy Products Joint Stock Company when it was founded in 1976. In 2003, it was renamed as Vietnam Dairy Products Joint Stock Company, or in short, Vinamilk.
The Vietnamese dairy company runs 13 dairy processing factories and owns 10 cow farms. Vinamilk enjoys the backing of 240,000 retailers across Vietnam who are the exclusive distributors of Vinamilk dairy products.
Vinamilk has also managed to take its business outside Vietnam by establishing presence in 43+ countries and regions.
According to food industry news updates, Vinamilk dairy products include varieties of liquid milk, condensed milk, yogurt, cheese, ice cream, soymilk, beverages, powdered milk, infant cereals, and also special nutrition products for adults.
Jardine Cycle and Carriage, which is a member of the Jardine Matheson Group, in a statement on its investment in the Vinamilk, said: “The taking of this Relevant Interest in Vinamilk is in line with the JC&C group’s strategy of investing in market leading companies in Southeast Asia.”
The Singapore based company believes that the acquisition of stake in Vinamilk would increase its exposure to the Vietnamese economy and in the future may look to carry out similar investments.
For more such Food acquisition news, Dairy industry news and Food business news updates, keep following Business-News-Today.com.
Vietnamese dairy company Vinamilk secures $616m investment from Jardine added by pallavi123 on
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