Vinamilk acquires remaining 30% stake of US Driftwood DairyThe recent acquisition of the remaining 30% stake in Driftwood Dairy Inc., one of California’s largest processors of milk and dairy products based out of the City of El Monte, by Vinamilk is a textbook example of how to enter a foreign market. Initially, Vinamilk purchased a 70% interest in Driftwood Dairy in December 2014 with options for the remaining 30% in a deal originally reported to be worth more than US$70 million. Vinamilk, whose legal name is Vietnam Dairy Products Corp. has its home office located in Ho Chi Minh City, Vietnam. Driftwood Dairy has a solid reputation as being an established dairy company and the largest supplier of milk and juice to grades kindergarten through the 12th in school districts throughout southern California. For Vinamilk, they have unequivocally now established their base in the US market with the acquisition of Driftwood Dairy.

Source: VietNamNet News August 26, 2016 08:48 UTC