Vinamilk and Kido have signed a memorandum of understanding on the formation of a new joint venture called Vinamilk – Kido Beverage Joint Venture Company (Vibev) to make ice cream, frozen foods, nutritious beverages, tea, milk tea excluding carbonated soft drinks. Vinamilk will have a 51% stake in the new venture, while Kido will have the remaining 49% share.
Euromonitor data shows Kido has 41% of the ice cream market in Vietnam, while Vinamilk has over half of the dairy market, reported vnexpress.net.
Both companies can leverage on their strong distribution network in Vietnam as well as Vinamilk’s overseas network.
Vinamilk has already diversified into water, milk tea and other beverages as well as having an ice cream portfolio.
