KIDO Group plans to divest its 49% stake in KIDO Foods, signaling the possible end of a heated trademark battle over the Celano brand.
It is currently seeking a partner to sell its entire stake in KIDO Foods – the company once behind 2 iconic Vietnamese ice cream brands, Celano and Merino. It expects to raise Dong 2.5 trillion (US$103 million) from the sale.
Earlier in 2023, KIDO Group cut its ownership to 49% after selling 23.4% of its shares in KIDO Foods to Nutifood Nutrition Food JSC, which is currently the majority stakeholder with 51% share. As a result, this started a legal dispute with KIDO Group filing a lawsuit against KIDO Foods over the rights to the Celano ice cream brand.
On 17 January, the court issued a temporary injunction prohibiting KIDO Foods from using the Celano brand. The court also ordered Dat Viet Media Corporation to cease all advertising and promotional activities related to Celano.
KIDO Group however has entered into a negotiation and now moving towards a settlement with KIDO Foods.
Earlier, KIDO Group claims that under a brand transfer agreement dated 30 June 2022, KIDO Foods transferred full ownership of all protected trademarks to the group, including the Celano brand.
