The company expects to complete the purchase in early 2017, however, it has declined to disclose the name of its
Chief executive officer Mai Kieu Lien said that the
Lien added that Vinamilk is intensifying efforts to acquire foreign dairy companies, as the Vietnamese dairy market is less developed than that of neighbouring countries. Notably, according to Saigon Securities Inc. (SSI)’s statistics, in 2015, the annual dairy consumption in
Besides, Vinamilk will increase its funds for M&A deals in order to reach $3 billion in revenue by the end of 2017. It is also aiming for an average annual growth of at least 10 per cent.
Earlier in May, Vinamilk completed the $3 million sale of its remaining shares in US dairy and food company Driftwood Dairy Holding Corporation, after spending $7 million on buying 70 per cent of the company in December 2014.
Outside of
The company plans to build a new milk-powder factory in
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