Del Monte Philippines Inc. said it has partnered with Vietnam Dairy Products JSC for a joint venture that will introduce into the country Vietnam Dairy’s Vinamilk products.
The 50-50 joint venture will import dairy products from Vinamilk, and market and distribute them in the Philippines through Del Monte Philippines.
Vinamilk is among the Top 40 largest dairy companies globally, ranked 36th by revenue with $2.6 billion in sales last year. It is also the largest listed food and beverage company in the stock exchange of Vietnam with a market capitalization of $9 billion.
It has 13 dairy farms, a total herd of nearly 160,000 cattle, 13 factories and 250,000 retail outlets across Vietnam. It also has three factories in the USA, New Zealand and Cambodia and a major organic dairy farm complex in Laos.
Vinamilk’s product offering includes more than 250 stock keeping units. Beyond Vietnam, Vinamilk has been exporting to 56 countries.
Del Monte Philippines said the joint venture will co-brand its products and leverage the strong brand equity of Del Monte in the country.
“The joint venture provides an opportunity for growth in the domestic dairy industry as Vinamilk expands into a new consumer market, and as Del Monte expands its footprint into a new category regularly consumed in Filipino households on a daily basis,” Del Monte Philippines said. – Ruelle Castro
