Vietnamese food group Kido Corp., formerly Kinh Do Corp, has sold the remaining 20% of its snacks business to Mondelez International for a reported VND2 trillion (US$90m).
Under the terms of that deal, announced in July 2014, Mondelez negotiated an option to acquire – and Kinh Do an option to sell – the remaining shares. The option was exercisable any time after 12 months from the completion of the 80% investment, which was finalised last summer.
Kinh Do changed its name into Kido last year after completing the first deal with Mondelez, according to reports in Vietnam.
Kido, based in Ho Chi Minh City, produces a range of products including ice cream, yogurt, instant noodles, cooking oil and soy sauce.