FDBusiness.com

Mondelez International Strengthens its Position in Asia Pacific

 Breaking News
  • Sweets and Snacks New Product Development Thrives on Adventure and Bite-size Trends With one in four global consumers increasing their consumption of confectionery over the past year (Innova Market Insights Consumer Survey, 2018) because “there is more variety & novelty available,” the food industry is responding. New data from Innova Market Insights finds a 15 percent average annual growth in global confectionery launches with a “discovery” claim [...]...
  • 80,000 Tonnes of Skimmed Milk Powder Sold in Biggest Tender A total of 80,424.05 tonnes of the skimmed milk powder bought into public stock by the European Commission since 2015 were sold in the latest tender sale, bringing the remaining stock to around 22,000 tonnes out of the original 380,000 tonnes, stockpiled since the crisis that hit the dairy sector in 2015. In effect, almost [...]...
  • Müller Rolls Out ‘Stealth’ Milk Caps Müller, Britain’s leading producer of branded and private label fresh milk, cream, butter and ingredients, is rolling out a new lightweight recyclable milk cap, which uses 13% less plastic material. The innovative solution allows the business to remove 300 tonnes of plastic every year, the equivalent weight of 231 million ‘stealth’ milk caps. The dairy company has [...]...
  • Greene King Announces New Chief Executive The board of Greene King has announced that Nick Mackenzie will join the board on 1st May 2019 as chief executive in succession to Rooney Anand. Nick Mackenzie will be joining from Merlin Entertainments where, as a member of the executive committee, he is responsible for the Midway portfolio of attractions, which comprises over 100 [...]...
  • Irish Grocery Market Hits Festive Record as Retailers Cash in on Christmas The Irish grocery market grew by an impressive 3.0% over the 12 weeks to 30 December, ensuring a record festive period for retailers. The latest Kantar Worldpanel data shows value sales reached €995 million in the month of December – the highest monthly total ever recorded in the Irish grocery market. This was driven by [...]...

Mondelez International Strengthens its Position in Asia Pacific

Mondelez International Strengthens its Position in Asia Pacific
November 14
10:20 2014

Mondelez International is acquiring an 80% stake in the snacks business of Kinh Do Corporation, Vietnam’s leading confectionery company, in a deal worth $370 million. Mondelez’s landmark investment in Vietnam’s fast-moving consumer goods industry will give it access to Kinh Do’s manufacturing capabilities and comprehensive distribution network. Kinh Do’s well-loved brands include Kinh Do mooncakes and biscuits, Cosy biscuits, Solite soft cakes and AFC crackers. These brands complement Mondelez International’s portfolio of iconic snacks brands in the region, including Oreo cookies, Ritz crackers and Cadbury chocolates.

“Our significant investment in Kinh Do and Vietnam is a perfect fit for our growth strategy in Asia Pacific, strengthening our core snacking categories in a high-growth dynamic market,” says Tim Cofer, Executive Vice President and President, Asia Pacific and Eastern Europe, Middle East & Africa for Mondelez International. “Kinh Do is a successful Vietnamese business with decades of heritage. Its deep understanding of local consumers, the commercial environment and complex routes to market in Vietnam, provide a strong foundation to grow the business.”

Kinh Do Corporation’s board of directors will propose the transaction to shareholders at the Kinh Do Corporation Extraordinary General Meeting in December 2014. Prior to the investment by Mondelez International, Kinh Do Corporation will complete its previously announced restructuring to consolidate its snacks division (except for the Kido ice cream and dairy division and its retail bakeries) into one business entity, BKD. Under the proposed transaction, Mondelez International will make an initial investment of VND7.846 trillion ($370 million) in exchange for 80% of the shares of the restructured snacks business.

Mondelez International has an option to acquire, and KDC has an option to sell, the remaining shares of BKD. The option is exercisable any time after 12 months from the completion of the 80 percent investment.

The proposed transaction is expected to close in the second quarter of 2015, subject to approval at the Kinh Do Corporation Extraordinary General Meeting and certain other regulatory requirements.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements