BusinessNews.ph

Tag: Vinamilk

  • Del Monte inks JV with Vietnam’s Vinamilk

    Del Monte inks JV with Vietnam’s Vinamilk

    To further its entry into the growing dairy category, DMPI entered into the Joint Venture with Vinamilk.

    The Joint Venture was intended to enhance DMPI’s value proposition of offering premium healthy products and expand its portfolio to include the dairy category. The Joint Venture enables Vinamilk to enter the Philippine market with innovative product offerings.

    DMPI and Vinamilk will have joint ownership and control of the Joint Venture.

    The parties entered into a joint venture agreement on 11 March 2021 which was subject to requisite approvals the last of which was obtained as of 16 August 2021.

    The corporate vehicle for the Joint Venture had been incorporated and is in the process of completing licensing arrangements for the use of Del Monte and Vinamilk and securing the requisite permits and licenses including business permits, importation license and market authorizations from the relevant government agencies.

    The Joint Venture company is expected to be fully operational to directly import and sell the products within a few months from this date. In the meantime, DMPI will be the direct importer and distributor of the dairy products produced by Vinamilk for the Philippine market.

     

  • Del Monte Philippines partners with Vinamilk to expand into dairy sector

    Del Monte Philippines partners with Vinamilk to expand into dairy sector

    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