After spending an additional 3 million USD, Vinamilk officially owns 100% of the dairy company in the US.

Vietnam Dairy Products Joint Stock Company (Vimamilk, Stock Code: VNM) has just announced that it has been approved by the Ministry of Planning and Investment to increase its investment capital by an additional 3 million USD in Driftwood (USA), bringing the total investment capital in this company to 10 million USD and reaching a 100% ownership ratio.

Vinamilk acquires American dairy company

Previously, in December 2014, Vinamilk officially received a foreign investment certificate to spend 7 million USD to buy back 70% of Driftwood Dairy's shares. In the 2016 annual general meeting, Ms. Mai Kieu Lien - General Director of Vinamilk said that Vinamilk's mergers and acquisitions in the coming time will be promoted, especially, the company will target units with many new, good products, modern technology. However, the company will also carefully choose the most effective deals.

Driftwood is a subsidiary of Viamilk headquartered in California, USA, specializing in the production and distribution of dairy products, fruit juices and snacks... In addition to being distributed in the US, the products can also be exported.

According to VnExpress