Del Monte Philippines, Inc. (DMPI), a subsidiary of Del Monte Pacific Limited, has forged a strategic alliance with Vietnam Dairy Products JSC (Vinamilk), a leading regional dairy company.
DMPI and Vinamilk entered into a joint venture to expand into the dairy sector in the Philippines with both companies contributing 50% of the total investment capital.
The joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through DMPI.
Vinamilk is among the Top 40 largest dairy companies globally, ranked 36th by revenue with US$2.6 billion of sales in 2020. It is also the largest listed food and beverage company in the stock exchange of Vietnam with a market capitalization of US$9 billion.
With an end-to-end value chain comprising of 13 dairy farms certified with global standards (GLOBAL G.A.P., EU/US Organic) and a total herd of nearly 160,000 cattle, 13 factories, and 250,000 retail outlets across Vietnam, Vinamilk’s product offering includes more than 250 SKUs that are able to address all nutrition needs of consumers.
Beyond Vietnam, Vinamilk has been exporting to 56 countries and is known for their quality, nutrition, and innovation. It also has three factories in the USA, New Zealand, and Cambodia and a major organic dairy farm complex in Laos.
The joint venture with DMPI will leverage Vinamilk’s successful long track record in the dairy industry spanning 45 years.
The joint venture will co-brand its products and leverage the strong brand equity of Del Monte in the country. In Campaign Asia Pacific’s Top 100 brands in the Philippines in 2020, Del Monte ranked as the number one locally-owned brand in the country and was one of only three food and beverage brands in the top 20.
DMPI celebrates its 95th year in the Philippines this year and has been nourishing consumers for generations. Similarly, Vinamilk consistently lands as the leading brand in the list of both Campaign Asia Pacific’s Top 10 strongest brands in Vietnam and Forbes’ Top 50 leading brands in Vietnam with Vinamilk’s brand value reaching US$2.4 billion. – BusinessNews.ph