Sojitz Corporation acquires full ownership of Vietnam’s New Viet Dairy
Sojitz Corporation has acquired full ownership of Daitan Viet JSC, Vietnam’s largest wholesaler of commercial food.
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Vietnam has been one of Sojitz’s most important markets in recent years, and the firm has built value chains for manufacturing, logistics, and retail industries here to meet the rapid expansion of supermarkets, convenience stores, and other retail business formats.
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| Sojitz Corporation has acquired full ownership of Daitan Viet JSC, Vietnam’s largest wholesaler of commercial food. |
Through the acquisition of New Viet Dairy, Sojitz will work alongside its consolidated subsidiary and major consumer goods wholesaler, Huong Thuy Manufacture Service Trading Corporation (HT), to create a broad line wholesale food distribution business that supplies independently owned retail stores, mass merchandisers, and mid-to-high-end hotels and restaurants.
Sojitz will leverage both New Viet Dairy and HT’s customer networks to expand its sales channels in Vietnam. Additionally, The Japanese corporation will make use of New Viet Dairy’s sales network to promote seafood products and other business collaborations. Sojitz will continue to pursue a synergy with other businesses in the group to strengthen its value chains in Vietnam.
New Viet Dairy is a wholesale importer and distributor that operates in three areas, namely commercial foods, food services, and dairy ingredients. The company’s annual sales totaled approximately 248 million USD in 2022.
It is also the sole food importer in Vietnam to be granted approval and certification by the Authorised Economic Operators program as a business operator with established security management and legal compliance systems, which enables expedited customs clearance procedures.
Growth is anticipated in Vietnam’s dining industry as demand continues to increase from both eat-in restaurants and takeaway delivery services. As part of New Viet Dairy’s commercial food and food services businesses, the company handles a total of 2,000 products for nearly 6,000 mid- to high-end luxury hotels and restaurants and has approximately 100 suppliers in Vietnam and from overseas.
The company is also one of the country’s largest handlers of beef, cheese, and other food products that have increased in demand due to personifying needs from an evolving food culture. Many products are processed and manufactured at the company’s factory and distributed nationwide under the Bottega Lachize brand. These production activities will continue to be developed moving forward.
The company’s food services position is an added-value segment that offers food solutions to professionals. With the rise in middle-class consumers, Vietnam’s dairy product market is expected to grow to approximately 8.4 billion USD, with an average annual growth rate exceeding 8 per cent.
New Viet Dairy imports dairy ingredients to Vietnam from New Zealand’s largest dairy manufacturer, Fonterra, to supply manufacturers with powdered milk and other products. Sitting at the top of the industry, the company boasts a 40 per cent market share.
(Source: VIR)
