|
Diageo buys into local distiller
Diageo, the world's leading distiller, will pay US$51.6 million to acquire the 23.6-per-cent stake in Ha Noi Liquor Joint Stock Company (Halico) currently held by VinaCapital's Viet Nam Opportunity Fund.
The deal, to be completed by the end of June, would boost Daigeo's presence in Viet Nam's growing drinks market, the company said.
"Halico's strong distribution and recent investment into their state-of-the-art production facility speak of their ambitions in this market," said Gilbert Ghostine, head of Diageo's Asia-Pacific division.
"Halico has seen double-digit growth for the past four years, but we are very keen to accelerate our development as Viet Nam continues to offer attrative growth potential," said Halico Director Ho Van Hai.
The two companies have also agreed to form a strategic partnership, under which Diageo would assist Halico in enhancing its capacities in innovation, branding and logistics.
However, Diageo would also continue to develop its spirits porfolio in Viet Nam with such brands as Johnnie Walker, Smirnoff and Baileys distributed through its wholly-owned subsidiary, Diageo Viet Nam Ltd.
"Diageo is a great partner for us – they have experience working with large local industry players and have a reputation for building iconic brands," Hai said.
Halico was the top domestic producer of branded spirits, with Vodka Ha Noi its leading trademark, and Diaego's understanding of Asian consumers and culture and their commitment to the region would help lift Halico to greater heights, he added.
The company was looking towards Viet Nam's trade negotiations with the EU, which could result in stronger exports of scotch whisky to that market, Hai said.
vietnamnews
|
