Vietnam’s Leading Food Company Acquires 51 pct of Malaysia-backed Cooking Oil Producer

Thi Ha

08:06 03/12/2018

The Kido Corporation has completed procedures to acquire a 51 percent stake in Golden Hope Nha Be (GHNB), the producer of Marvela cooking oil.

Vietnam’s Leading Food Company Acquires 51 pct of Malaysia-backed Cooking Oil Producer

After selling off the confectionery brand, Kido changed its focus to ice-cream, instant noodle and cooking oil market segments. Photo by VnExpress

After the 51 percent is transferred to Kido, the group will own 100 percent of GHNB. Cooking oil company Vocarimex, a subsidiary of Kido, holds 49 percent of shares in GHNB.  
According to the leaders of Kido, ownership of GHNB is an important step in the strategy to expand its influence in the cooking oil market, towards the aim of becoming the leading food corporation in Vietnam.
GHNB is one of the top cooking oil producers in Vietnam in terms of market share, with annual sales of around VND1.3 trillion ($55.88 million). GHNB is a joint venture between Vocarimex and Malaysian palm oil plantation company Sime Darby.  
Kido Corporation, formerly Kinh Do Corporation, was established in 1993, and is one of the leading food companies in Vietnam. Formerly well known for their moon cakes, the company sold 80 percent of its confectionery business to U.S. firm Mondelez International in 2015, which owns famous brands like Toblerone, Kraft, and Oreo.  
After selling off the confectionary brand it had worked to establish for over 20 years, Kido changed its focus to ice-cream, instant noodles and cooking oil market segments.
Following a series of acquisitions, it plans to go public on the Ho Chi Minh City Stock Exchange (HoSE) in 2019.

Theo VnExpress

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Từ khóa: Kido Corporation