Mondelēz International and Kido Group announced the launch of Mondelez Kinh Do, a new brand company between the two confectionery makers, on July 15 in HCM City.
|Kido Group gain consumers' heart with its extensive history of making confectionery in Viet Nam. Photo lamdong.vietnamnay.com
The launch of Mondelez Kinh Do was to follow the completion of Mondelēz International's acquisition of an 80 per cent stake in Kido Group's confectionery, which is one of the leading snack makers in Viet Nam.
Thus, the business will have a combined portfolio of leading snack brands of reputed Kinh Do moon cakes and biscuits, Cosy biscuits, and Solite soft cakes, in addition to AFC crackers, Oreo cookies, Ritz crackers and Cadbury chocolate.
Stephane Gripon, managing director, Mondelez Kinh Do, said the company combined Kinh Do's understanding of local consumers and the Mondelēz International's global innovation and marketing.
Gripon said Viet Nam was a fast-growing market that was home to over 90 million increasingly sophisticated consumers who looked for high-quality snacks, and added that his company would serve them the best-loved brands.
The acquisition strengthens Mondelēz International's operations in Viet Nam and across Asia Pacific.
Mondelēz International is a global snack powerhouse and a world leader in chocolate, biscuits, and gum, in addition to candy and powdered beverages. Mondelez, in Asia Pacific, has combined net revenue of over US$5 billion for the region and operates in 14 countries and territories including Australia, China, and Hong Kong, in addition to Indonesia, India, and Japan. It also operates in Malaysia, New Zealand, and the Philippines, apart from Taiwan.
Kido Group (former name was Kinh Do Group) is Viet Nam's leading food company with a diversified portfolio of leading brands, built over the past 21 years. Throughout its extensive history, Kido Group has built a market leading presence in a wide range of confectionery products, cakes, buns, and moon cakes, apart from cookies and ice cream.