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Sojitz acquires full ownership of New Viet Dairy
FoodBev Media

FoodBev Media

23 November 2023

Sojitz acquires full ownership of New Viet Dairy

Japanese multi-sector business Sojitz Corporation and its subsidiaries, Sojitz Asia and Sojitz Vietnam Company, have acquired full ownership of DaiTanViet Joint Stock Company (New Viet Dairy), Vietnam's largest food wholesaler. New Viet Dairy is a wholesale importer and distributor specialising in three distinct sectors: dairy ingredients, commercial foods and foodservice. The company achieved an annual sales figure of around JPY 37 billion (approx. $250 million) in 2022. Within New Viet Dairy's commercial food and foodservice sectors, the company manages an extensive portfolio of 2,000 products for nearly 6,000 mid- and high-end luxury hotels and restaurants and around 100 suppliers in Vietnam and international locations. New Viet Dairy is a major player in handling cheese, beef and other food products in response to the growing demand driven by evolving food preferences. The company processes and manufactures a significant variety of products at its factory, distributing them nationwide under the Bottega Lachize brand. According to the company, "these production activities will continue to be developed moving forward". Through the acquisition, Sojitz will collaborate with its consolidated subsidiary, Huong Thuy Manufacture Service Trading Corporation (HT), to establish a broadline wholesale food distribution business that aims to supply independently owned retail stores, mass merchandisers and mid-to-high-end hotels and restaurants. Sojitz will leverage both New Viet Dairy and HT's customer networks to broaden its sales channels in Vietnam. Additionally, New Viet Dairy's sales network will be used to promote sales of its marine food products handled by MF Vietnam and other business collaborations. Sojitz said it will continue to pursue synergy with other Sojitz Group businesses "to strengthen its value chains in Vietnam". Terms of the transaction were not disclosed.

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