March 12, 2021
Vinamilk forms beef processing joint venture with Japanese trading house
Top Vietnamese dairy producer Vinamilk will form a joint venture next month with Japanese trading house Sojitz to process and sell beef products in Vietnam, Nikkei Asia reported.
The Hanoi-based venture will initially import Japanese beef and distribute it to large supermarket and restaurant chains. Vinamilk is said to bring its sales channels and nationally recognised brand to the table, while Sojitz provides the know-how in selling livestock products.
According to Sojitz, Vietnam's growing population of 98 million consumes 500,000 tonnes of beef annually, or about half that of Japan.
Vinamilk and Sojitz may further expand the business outside of Vietnam.
Vinamilk will hold a 51% stake in the unit, with Sojitz owning the rest.