Kerry Group Signs Vietnamese Deal
Kerry Group, the global ingredients, flavours and consumer foods producer, has signed a 10-year partnership deal with Nova Group, the Vietnamese property, food and veterinary medicines business, to develop and supply formula milk products for Vietnam, where dairy products consumption is lower than other Asian countries.
The partnership agreement will entail Kerry Group supplying ingredients and finished products to Nova Group’s affiliate Anova.
Nova Group plans invest over $50 million in developing various milk-based products and distribution systems for the fast growing Vietnamese dairy products market. The first series of products is due to be launched in late March or early April 2015.
“As one of the global suppliers of infant formula ingredients for established multinational brands, we are delighted to play a key role in delivering nutritious milk to infants in Viet Nam through this partnership,” says Edmond Scanlon, president of Kerry Group in the Asia-Pacific region.
Kerry Group has invested Eur100 million in its Global Nutrition Application Centre with over 800 scientists and nutritionists to support ongoing research and development of infant and follow-on formula for growing infants.
