Bel Group is investing in Vietnam to expand the production of its The Laughing Cow and Kiri cheese brands.
The French dairy group’s factory in Binh Duong province in southern Vietnam is getting €16.7m ($19.3m) to double its annual output to 20,000t.
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The expansion will position Vietnam as Bel’s “key industrial and export hub” in Asia, the company said.
The plant will supply markets across Southeast Asia, China, Japan and Saudi Arabia.
As part of the project, Bel will install a pilot line dedicated to R&D, which is “designed as a key lever to accelerate product innovation, optimise recipes and test new formats tailored to regional usage patterns and nutritional needs”.
Construction work will start at the end of the month. The project will result in the number of staff rising from the current 188 to around 400 “in the long term”, Bel said.
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By GlobalDataStéphane Dupays, the COO of Bel Group, added: “Vietnam is one of Bel’s most dynamic markets in Asia and a cornerstone of our regional strategy. This expansion reflects our long-term confidence in the country and our ambition to make Vietnam a major industrial hub serving local consumers and the entire ASEAN region, while maintaining the highest standards of quality, safety and sustainability.”
Bel has been operating in Vietnam since 2011, beginning with an initial production capacity of approximately 4,000t per year.
The company invested nearly €13m in 2015 to build a new factory, lifting annual output to 10,000t, mainly for The Laughing Cow products.
Bel describes Asia’s role as “central” to its growth ambitions.
In 2022, the group acquired a 70% stake in Shandong Junjun Cheese in China.
Meanwhile, in Indonesia, Bel holds a 22.5% minority stake in Mulia Boga Raya.
In October 2024, Britannia Bel Foods, a joint venture between Britannia Industries and Bel Group, opened its cheese factory in the Indian state of Maharashtra.
The facility, focused exclusively on manufacturing The Laughing Cow cheese products, has five production lines.
In addition to The Laughing Cow, Bel is known for brands such as Babybel, Boursin and Kiri.
It also produces fruit-based products under brands like Pom’Potes and GoGo squeeZ.
The group employs around 11,000 people across 60 subsidiaries worldwide.
Its products are manufactured at 30 production sites and distributed in more than 120 countries.
In the first half of 2025, the group reported a decline in earnings despite higher sales, as cost pressures weighed on margins. Its share of consolidated net profit fell by 5.4% on a reported basis to €45.8m.
However, consolidated net sales reached €1.86bn, representing a 3.2% organic increase and 2% growth on a reported basis. Bel said the revenue performance was “driven by higher volumes and price increases” that helped offset “persistent inflation in raw materials in several markets”.
The company’s full-year sales in 2024 stood at €3.74bn, up 3.4% organically and 2.6% on a reported basis, while its share of consolidated net profit dropped 23.4% to €53m.
