Kinh Do Corporation (KDC) and Japan s Ezaki Glico yesterday signed a strategic cooperation agreement and KDC will exclusively distribute Glico ssnackPocky in Vietnam.
To enter the Vietnamese confectionery market Glico has become a strategic shareholder of KDC since February through an acquisition of 14 million shares worth around VND700 billion or a 10 stake In addition Glico and KDC have plans to cooperate in trading activities and distribute Glico s products via the distribution network of KDC.
Under the cooperation KDC will at first distribute Pocky and then other snackproducts in cluding Pretz Collon and chocolate Alfie Sales of Glico s products in Vietnam are estimated to reach VND1 trillion after four years.
According to Tran Le Nguyen CEO and vice chairman of KDC his firm will distribute more products of Glico at its 120 000 retail outlets Besides if the business runs smoothly the two sides will consider opening a production plant in the country.
Meanwhile Katsuhisa Ezaki President and CEO of Ezaki Glico said the cooperation between Glico and KDC was part of the business expansion plan to foreign countries especially in Asia.
Ezaki Glico is a Japanese confectionery firm having 90 years of experiences The firm obtained over US 3 5 billion in sales last year.