Nutifood buys large stake in soy milk brand producer

Binh Duong Nutifood Nutrition Food JSC, affiliated to NutiFood Nutrition Food JSC (NutiFood), has recently acquired 2 million shares in Quang Ngai Sugar JSC, the leading sugar producer in Vietnam, and also owner of the popular Vinasoy soymilk brand.

With the recent purchase, Nutifood become a major shareholder alongside Thanh Phat Trading and VinaCapital.

There have been speculations that Nutifood was seeking to increase its stake in Quang Ngai Sugar to develop its own soy milk segment and increase market share to compete with dairy giant Vinamilk.

Nutifood is set to achieve its targeted full year profit of Dong 1.01 trillion (US$42.7 million) this year.