Vinamilk licensed to buy into U.S. firm
Vietnam Dairy Products Joint Stock Company (Vinamilk) has received an investment certificate for the acquisition of a 70% stake worth USD 7 million in Driftwood Dairy Holding Corporation based in the U.S. State of California. Driftwood Dairy Holding Corporation is a producer and distributor of dairy, juice and snack food products.
In addition to the U.S., Vinamilk has invested in New Zealand by holding a 20% stake in Miraka Limited, and has been licensed to develop a dairy factory in Cambodia next year. The firm looks to earn VND32.5 trillion and VND6.23 trillion in revenues and profits respectively this year. In the January-September period, Vinamilk’s revenues increased by 17% year-on-year to over VND23.2 trillion while it earned a profit of over VND5 trillion, up 21%.
Michael Boddington from Asian Agribusiness Consulting (AAC) has been involved in agribusiness in Asia since 2000. AAC has office both in Vietnam Ho Chi Minh City and China Beijing. So AAC has a thorough understanding of the Viet Nam and China aqua industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email This email address is being protected from spambots. You need JavaScript enabled to view it.
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