Vinamilk raises stake in New Zealand's Miraka Company

Thursday, Jul 09, 2015 15:41

A view of Miraka Limited Company in New Zealand. Vinamilk has got licence to invest additional of $3.5 million in the company.— Photo

HA NOI (Biz Hub) — The Vietnam Dairy Products Joint Stock Company (Vinamilk) has got a licence to invest an additional nearly US$3.5 million in Miraka Limited Company of New Zealand.

With this, Vinamilk's total investment in Miraka has risen to more than $13 million, and its stake there has increased from 19.3 per cent to 22.8 per cent.

Vinamilk began its strategy to invest abroad by co-operating with Miraka to build a milk processing plant in New Zealand.

The plant became operational in August 2011, and reached full capacity production in August 2012.

In 2014, Miraka earned $164 million in revenue, a year-on-year increase of 51 per cent.

In early 2014, Miraka contributed 51 per cent of the capital to establish the Angkor Dairy Products Company with the aim of building a factory to process milk products for the Cambodian market. It is expected to become operational by the end of 2015.

In late 2013, Vinamilk invested $7 million to buy a 70 per cent stake in Driftwood Dairy Holding of the United States, which specialises in producing milk products, fruit juice and snacks such as bread and cheese.

In the same year, Vinamilk got a licence to contribute 100 per cent capital to establish a company in Poland that would operate in the fields of agricultural materials, milk and milk products, and food and beverages. — VNS

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