KIDO forms JV with Vinamilk in the ice cream, beverage segments

In a separate development, KIDO has also reached a joint venture agreement with Vinamilk to market beverages and ice cream.
The new business, called Vinamilk-KIDO Beverage Joint Venture Company Limited (Vibev) will produce still beverages (non-carbonated drinks), ice-cream and frozen foods.
Vinamilk will own 51% of the JV while KIDO will hold the remainder. Mai Xuan Tram, Deputy General Diretor of KIDO said the mission of the new company is to build strong brands for Vietnamese beverages and offer consumers a wider choice of modern sophisticated tastes while ensuring nutrition, quality and safety.
The JV first products will be launched soon in 3rd quarter 2020.
Tram also added that the 2 companies also have strong distribution channels with over 1,000,000 points of sales. The JV will also utilise Vinamilk export network in 30 countries and help the 2 companies better control raw material prices.
The 2 partners also expect the JV to grab 50% share of the domestic ice cream market.