South Korea’s Lotte Confectionery Co. has struck a deal to buy 30% of Vietnamese snack firm Bibica for KRW17bn (US$18.5m).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
A Lotte spokesman confirmed the deal to just-food this morning (4 October) but declined to comment further.
Bibica, whose full name is Bien Hoa Confectionery Corp., is based in the southern province of Dong Nai and manufactures a range of confectionery products including biscuits, cookies and candies.
In June, reports in Korea claimed that Lotte was planning to spend $30m on setting up its first wholly-owned subsidiary in China.
At the start of the year, Lotte signed a deal with Hershey to set up a joint venture in China to manufacture and sell both companies’ products in the country.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
