HA NOI (Biz Hub) — Viet Nam Dairy Products Joint-Stock Company (Vinamilk) hopes to buy about 70 per cent of the American company Driftwood Dairy, a representative of the company told Biz Hub today.
He said Vinamilk planned to invest nearly US$10 million in the company, which is based in California. Driftwood Dairy began operations in the 1920s, providing butter, juices, ice cream, and baking bread for schools, hotels, hospitals, supermarkets and restaurants.
Vinamilk expects to conclude the deal by the end of the year.— VNS
The recent acquisition of the remaining 30% stake in Driftwood Dairy Inc., one of California’s largest processors of milk and dairy products based out of the City of El Monte, by Vinamilk is a textbook example of how to enter a foreign market. Initially, Vinamilk purchased a 70% interest in Driftwood Dairy in December 2014 with options for the remaining 30% in a deal originally reported to be worth more than US$70 million. However, sources have since revealed the actual price was more likely closer to US$30 million, though specific details of these types of private equity transactions are rarely…... [read more]
Vietnam Dairy Products Joint-Stock Company (Vinamilk) hasreceived a certificate for investment worth US$7 million to acquire a70% share of American company Driftwood Dairy. Driftwood Dairy- a U.S. dairy business founded in California since1920, provides fresh milk, fruit juicea and light food for schools,hotels, hospitals, supermarkets and restaurants. Previously, Vinamilk invested VND179 billion in Miraka LimitedCompany of New Zealand. Its profit after tax reached VND1,690 billion inthe third quarter, up 21.15% over the same period last year. Itsearnings per share (EPS) was VND6.076. By September 30, the company's assets had increased from VND19,698billion to VND20,660 billion and its undistributed profit after…... [read more]
The shipment is part of a total 1,000 dairy cows addition Vinamilk imports during April at Noi Bai International Airport.As part of an ongoing business strategy to deal with sharply fluctuating world milk prices, Vinamilk has set-out to invest in dairy farms which supply its dairy plants quality products and, at the same time, increase the rate of localization.By April 2015, Vinamilk has set up 9 dairy farms in Tuyen Quang, Thanh Hoa, Nghe An, Binh Dinh, Lam Dong.During the period 2015-2017, Vinamilk plans to import dairy cows from Australia.The company intends to increase its number of dairy cows to…... [read more]
DA NANG (Biz Hub) — The Viet Nam Dairy Cow One-Member Company (Vinacow), a subsidiary of Viet Nam dairy Products Joint-Stock Company (Vinamilk), plans to develop a dairy-cow farm on 66ha with total investment of VND350 billion (US$17 million.Vinamilk has two other dairy-cow farms in the central region, one in Lam Dong Province in the Central Highlands and the other in the coastal province of Binh Dinh.Trinh Quoc Dung, Vinamilk's executive director of its dairy development division, said the new cow-farm and production line would be built in Hoa Phong commune in Da Nang's Hoa Vang District.The farm, which would…... [read more]
After being licensed by the US Food and Drug Administration (FDA) to export its products to this potential market, the company will build a milk factory in the US, said Mai Kieu Lien, Chairman and general director of Vinamilk. At present, Vinamilk has a powdered milk factory in New Zealand. The company is expected to put the milk production line into operation to supply fresh milk to the international market. Lien said Vinamilk plans to invest not only in the US but also in some European markets.... [read more]
HA NOI (Bizhub) – Viet Nam Dairy Products Joint Stock Company (Vinamilk)'s products would be sold in the United States after they were displayed at the Summer Fancy Food Show. At the food show, Vinamilk and Driftwood Dairy Inc. – a company 100 per cent owned by Vinamilk in the US – introduced condensed milk and creamer products with the Driftwood brand manufactured at the Vinamilk factory in Viet Nam. Those products were scheduled to be exported to the US. Vinamilk's two new products attracted the attention of the customers visiting the fair, opening up opportunities to export Vinamilk's milk…... [read more]
Vinamilk's representatives were talking with visitors at the Summer Fancy Food Show 2016. (Photo:vinamilk.com.vn)Hanoi (VNA) - Giant Vietnamese dairy firm Vinamilk and Driftwood Dairy Inc. – a company 100 per cent owned by Vinamilk in the US, introduced sweetened condensed milk and creamer products during the Summer Fancy Food Show in the US.Vinamilk's two new products attracted the attention of customers visiting the fair, opening up opportunities to export Vinamilk's milk products, the company said.Vinamilk's products have received quality certificates and an import licence from the US Food and Drug Administration (FDA) and the US Department of Agriculture (USDA) after…... [read more]
Under the agreement, signed between the company and the People's Committee of Lam Dong at Mega Viet Nam Dairy Factory in the southern Binh Duong province last week, Lam Dong will create favourable conditions for Vinamilk to build two to three modern farms to raise about 10,000 dairy cows.The farms will also serve as centres to provide technical consultancy services relating to the raising of cattle, animal healthcare and animal feed for the local dairy households.A high-quality breeding centre will also be built to provide dairy cattle that are pureblood Hosltein Friesian with high productivity to local farmers.Vinamilk will also…... [read more]
The acquisition came more than two years after the giant bought a stake of 70% in the US company for US$7 million. Last year Vinamilk also raised its stake in New Zealand's dairy firm Miraka Limited to 22.8% from 19.3%. The state-controlled company, which exports baby formula, soymilk and UHT milk products to 42 countries, currently runs a wholly-owned subsidiary in Poland and a factory in Cambodia with local partner Angkor Dairy Products. The most recognizable brand in Vietnam with a brand value of $1.13 billion, Vinamilk is now one of the country's biggest magnets for foreign investors, after being allowed to remove…... [read more]
In 2014, Vinamilk purchased 70 percent ofUS-based company for 7 million USD, which contributed 2.6 trillion VND(122 million USD) to the company's total 1.7 billion USD revenue in2014.Previously, the Vietnamese dairy company also invested in Cambodia and New Zealand. Earlierthis year, Vinamilk set up a 3 million USD subsidiary in Poland. Itsgoal is to become one of the world's 50 largest dairy businesses.VNM stocks jumped 1.9 percent to 109,000 VND (5.1 USD) on February 27.-VNA... [read more]