Business

Mondelez completes acquisition of Vietnam snacks business

Posted July 17, 2015 1:00 am

Globe Newswire

DEERFIELD - Mondelez International said it has completed the acquisition of an 80 percent stake in Kinh Do, Vietnam's leading snacks business.

First announced in November 2014, the combination brings together Kinh Do's local snacks, including Kinh Do mooncakes and biscuits, Cosy biscuits, Solite soft cakes and AFC crackers, with Mondelez International's iconic global brands, such as Oreo cookies, Ritz crackers and Cadbury chocolate.

"This acquisition is a perfect fit for our growth strategy in Asia Pacific, strengthening our core snacking categories in a high-growth dynamic market," said Tim Cofer, executive vice president and President, Asia Pacific and Eastern Europe, Middle East & Africa.

Vietnam is home to over 90 million consumers looking for high-quality snacking products.

"The addition of Kinh Do's deep understanding of Vietnam's consumers and routes to market enhances our capabilities in the region," Cofer said. "Combined with our global knowledge and resources, including world-class innovation, marketing, food safety and quality, the future is bright for our business in Vietnam."

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