The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

Singapore-based Growtheum Capital Partners (GCP) has partnered with Vietnamese dairy maker International Dairy Products (IDP). According to Bloomberg, GCP has agreed to pay around $100 million for a 15% stake in IDP as it looks to tap into the region’s growing dairy market. The partnership is set to support the rapid business expansion of IDP in Vietnam and opportunistically across South East Asia. IDP had reported sales of VND 6.1 trillion (approx. $259.49 million) for 2022, placing it among the fastest-growing consumer companies in Vietnam. Amit Kunal, managing partner of GCP, said: “We are impressed with IDP’s innovative brand-building capabilities, diversified product portfolio and extensive distribution network…We look forward to working closely with IDP’s management team and existing shareholders to strengthen its market position in Vietnam and expand its footprint in the regional markets.” Dang Pham Minh Loan, CEO of IDP, commented: “IDP is committed to providing products of high quality and nutritional value to our Vietnamese consumers. The company is continuously innovating, using a combination of advanced technology and natural ingredients to deliver products that meet both the taste and the nutritional needs of our customers.” She continued: “We believe that Growtheum’s industry knowledge, reputation in the region, and approach to support the management team in building enduring businesses will benefit IDP in its next phase of growth.”