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Ho Chi Minh City
Thursday, June 13, 2024

Food companies in acquisition wave

By Ho Nguyen Thao

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Throughout the first three weeks of November, reports emerged of Japanese trading firms making significant moves, either by acquiring food distribution companies or purchasing shares in Vietnamese businesses. Is this influx of Japanese companies mirroring the trend set by Thai corporations, which have been actively acquiring Vietnamese enterprises since 2012? The Vietnamese merger and acquisition (M&A) market has witnessed the prominent presence of both Japanese and Thai companies. Nevertheless, this vibrant landscape is not exclusive to them alone; it also attracts corporations from South Korea, Taiwan, India, the Philippines, as well as numerous multinational companies. Japanese firms accelerate expansion  Japan’s trading company Sojitz is set to acquire New Viet Dairy, Vietnam’s largest food wholesale distributor. The two parties have not disclosed the deal price, but Sojitz plans to turn New Viet Dairy into a wholly-owned subsidiary. Founded in 1997 by French entrepreneur Didier Lachize Albert and his wife Le Thi Van, New Viet Dairy has emerged as Vietnam’s largest importer and distributor of dairy materials and products. Renowned for representing top brands like Heinz, Paysan Breton, Tatua, Even, Fromagio, and Daisy, the company reported impressive sales of US$320 million last year. Its extensive portfolio boasts over 2,000 food products, including […]
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