Vinamilk plans purchase of French company

Update: February, 28/2015 - 09:20

HA NOI (VNS)— Vinamilk (VNM) is planning to acquire a French business, aiming at expanding production and export to the European market, a source from the company said.

Just last year, Vinamilk purchased 70 per cent of US-based company for US$7 million, which contributed VND2.6 trillion ($122 million) to the company's total $1.7 billion revenue in 2014.

Previously, the Vietnamese dairy company also invested in Cambodia and New Zealand.

Earlier this year, Vinamilk set up a $3 million subsidiary in Poland. Its goal is to become one of the world's 50 largest dairy businesses.

VNM stocks jumped 1.9 per cent to VND109,000 ($5.1) yesterday. — VNS