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Ice-cream maker to merge with Kinh Do
Ice cream maker Kido will be integrated into the commercial banker Kinh Do Group later this year, a move that will help it expand sales both in and outside the country.
General Director Tran Quoc Nguyen said his company’s products were available at 15,000 retail shops and the figure was expected to increase this year when it is incorporated into the Kinh Do Group.
The Kinh Do Group has a network of 60,000 outlets in Viet Nam and exports to more than 30 markets in the world.
Established in 2003 to buy the Wall’s ice cream factory of Unilever Bestfoods Viet Nam, the Kido factory is located on 2.4ha of land in HCM City’s Tay Bac Cu Chi Industrial Park.
The factory has an annual capacity of more than nine million litres.
Kido has achieved gradual growth of over 25 per cent, and after five years in operation, has gained 60 per cent of the market for middle – and high-grade products in Viet Nam.
Last year it recorded a turnover of VND170 billion (US$10.6 million) that yielded a VND19 billion profit.
The profit was 30 per cent higher than that of 2006 and exceeded the year’s target by 80 per cent.
Kido has increased its charter capital from VND30 billion to VND60 billion, diversifying its products to include yoghurt, agar jelly and pudding products.
Kido is developing another factory in Hung Yen Province to better serve the northern market.
VNS
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