(VOV) – Mondelez International, the world’s pre-eminent maker of chocolate, biscuits, gum and candy, on November 11 announced plans to acquire an 80 percent stake in Kinh Do Corporation, the leading snack business in Vietnam, for US$370 million.
The landmark investment in Vietnam’s fast-moving consumer goods industry will leverage Kinh Do’s manufacturing capabilities, widen its distribution network and muster some of the best Vietnamese talent in the industry, a company representative said.
Kinh Do’s well-loved brands include Kinh Do mooncakes and biscuits, Cosy biscuits, Solite soft cakes and AFC crackers. These brands complement Mondelez International’s portfolio of iconic snacks brands in the region, including Oreo cookies, Ritz crackers and Cadbury chocolates.
KDC Chairman Tran Kim Thanh said consumer trust and the efforts of company staff have contributed significantly to the development of Kinh Do brands over the past two decades, adding that the company is on a mission to introduce KDC products to Vietnamese consumers
Our significant investment in Kinh Do and Vietnam is a perfect fit for our growth strategy in the Asia Pacific region, strengthening our core snacking categories in a high-growth dynamic market, said Tim Cofer, executive vice president and president of the Asia Pacific region and Eastern Europe, Middle East & Africa for Mondelez International.
The deal, subject to the approval of Kinh Do Corporation’s shareholders, would be completed in the second quarter of 2015, if approved.
Đăng ký: VietNam News
