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Latest headlines

Mondelez to purchase majority stake in Vietnamese snack company

By Jeremy Gerrard
Mondelez International, D.E. Master Blenders 1753 to merge coffee businesses
November 11, 2014

Mondelez to purchase majority stake in Vietnamese snack companyMondelez International said Tuesday it will invest $370 million to acquire an 80 percent stake in the Kinh Do Corporation’s snacks business in Vietnam to accelerate the company’s growth strategy in Asia.

Kinh Do brands include Kinh Do mooncakes and biscuits, Cosy biscuits, Solite soft cakes and AFC crackers. Mondelez officials say these brands complement the company’s portfolio of iconic snacks brands in the region, including Oreo cookies, Ritz crackers and Cadbury chocolates.

“Our significant investment in Kinh Do and Vietnam is a perfect fit for our growth strategy in Asia Pacific, strengthening our core snacking categories in a high-growth dynamic market,” said Tim Cofer, executive vice president and president, Asia Pacific and Eastern Europe, Middle East & Africa for Mondelez International.

The deal is subject to the approval of Kinh Do’s shareholders with the transaction expected to close in the second quarter of 2015.

KEYWORDS: food and beverage manufacturing global economy mergers and acquisitions snacks

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Jeremy Gerrard was Food Engineering's Digital/Online Editor. He is a graduate of Auburn University with a degree in journalism. His previous work experience includes years spent as a reporter with the Daily Local News out of Chester County, PA. In addition to writing feature articles for Food Engineering, Jeremy covered the Dry Processing, Field Reports and People and Industry news sections.

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