Knorr-to-Lipton maker Unilever said its move to gain full control of its Vietnam subsidiary is part of a strategy to boost its presence in emerging markets.
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The Anglo-Dutch conglomerate today (23 June) announced that it had upped its stake in its Vietnamese business from 66.7% to 100%.
Unilever bought out local partner Vinachem for an undisclsoed sum. The two sides had joined forces in 1995 when Unilever entered the Vietnamese market.
A Unilever spokesperson said the company’s sales in Vietnam were “growing” and the company made the investment as part of its “general global priority” of “building its presence in developing and emerging markets”.
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By GlobalData
