KDCs Tran Le Nguyen and Ezakis Katsuhisa Ezaki shake on the deal

KDC's Tran Le Nguyen and Ezaki's Katsuhisa Ezaki shake on the deal

Japan's Ezaki Glico today (18 January) announced the acquisition of a 10% stake in Vietnamese sweets maker Kinh Do Corp (KDC).

The snacks, dairy and meat products manufacturer Ezaki Glico said the acquisition of 14m shares would help it expand in south-east Asia. It did not disclose the sum paid.

Katsuhisa Ezaki, CEO and chairman of Ezaki Glico, said: "We have a very aggressive plan for business expansion in our Asian markets. Through our partnership with KDC, we look forward to sharing the benefits of its market-leading position and one of the most powerful distribution networks in Vietnam."

The two firms said the deal heralds a partnership to improve Ezaki Glico's distribution in the Vietnamese market.

Tran Le Nguyen, CEO and vice chairman of KDC, said. "This strategic partnership reinforces KDC's role as the market leader in confectionery. With the experience and broad product portfolio of Ezaki Glico, we will be able to offer an array of confectionery products at a whole new level."