Vinamilk, Vietnam’s largest dairy processor, has confirmed that it is in talks to acquire an unnamed dairy group in the US.
A spokesperson for the company told just-food that the company is unable to provide detail on its M&A ambitions in the US as the deal is yet to be finalised. The spokesperson added: “We are still looking and evaluating M&A opportunities so that Vinamilk could expand the size of the company, penetrate new markets and increase revenue.”
In an interview with Bloomberg, CEO Mai Kieu Lien revealed that the company hopes to close the deal before the end of this year and suggested that the company could increase its M&A expenditure as it works to grow via acquisitions.
Earlier this year, Vinamilk revealed it was taking 100% control of US dairy group Driftwood Dairy. The company said it would pay US$30m for the additional 30% in Driftwood that it did not already hold.
