Philippine food and beverage firm San Miguel Corp has said it has signed a deal to acquire a 100% stake in Vietnam food company TTC (Vietnam), marking the firm’s first entry into the Vietnamese food market.

The deal, worth US$35.5m, will allow San Miguel to acquire all the assets and leasehold rights of TTC (Vietnam) from Taiwan Tea Corp, reported Reuters.

San Miguel, Southeast Asia’s largest food and drinks firm, is aiming to establish distribution lines for its food and beverage products in Australia, China, Indonesia, Malaysia, Taiwan, Thailand and Vietnam.

San Miguel said it expects to complete the deal by 30 October.

GlobalData Strategic Intelligence

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

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now