F&N deepens investment in Vinamilk

Announced on December 16, the proposed acquisition would raise F&N’s effective interest in Vinamilk from just under 20.4 per cent to almost 25 per cent. The move reflects F&N’s confidence in Vinamilk’s growth, market leadership, and operational strengths, while advancing its regional dairy strategy by deepening exposure to Vietnam’s dairy market and leveraging complementary capabilities across farming, manufacturing, innovation, and distribution.

Vinamilk is one of Asia’s leading dairy companies, recognised for its strong brand portfolio, extensive distribution network, and resilient financial performance. The company continues to deliver robust growth both domestically and across its export markets.

“Vinamilk has built a strong, resilient dairy platform with leading brands and deep capabilities across the value chain,” said Rahul Colaco, CEO of F&N.

“As a long-term shareholder, we see meaningful opportunities to deepen collaboration and share expertise across dairy farming, manufacturing, innovation, and distribution, creating long-term efficiencies and growth. This investment reflects our belief in disciplined, long-term value creation and our commitment to supporting Vinamilk’s continued growth as a top dairy company in the region,” he added

The proposed acquisition involves the purchase of over 96 million shares, representing approximately 4.6 per cent of Vinamilk’s issued shares, from Platinum Victory Pte Ltd, a subsidiary of Jardine Cycle & Carriage Limited, subject to certain conditions being met.

The acquisition is expected to be earnings-accretive and will be funded through a combination of internal resources and borrowings. The group currently has no intention to purchase or acquire additional shares in Vinamilk in a manner that would require a public tender offer under the laws of Vietnam.

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