HCMC – Japan-based Ezaki Glico Co. Ltd. has signed an agreement with Kinh Do Corporation (KDC) to buy 14 million shares of KDC, or a 10% stake in the local enterprise, marking the penetration of Glico into the local market.

According to KDC, with this share purchase, KDC and Glico have cooperation plans to distribute luxury products of Glico in Vietnam through KDC’s distribution network and marketing team to develop the confectionery business in Vietnam.

Tran Le Nguyen, chief executive officer cum vice chairman of KDC, said that with experiences and products of Glico, his firm could take the confectionary business to a higher level. The partnership would create new products which would be distributed to KDC’s 120,000 retail points, Nguyen added.

Meanwhile, Katsuhisa Ezaki, chief executive officer cum president of Ezaki Glico, said that Glico was working on a plan to expand its business overseas, especially in Asian countries, and hoped to earn benefits from KDC’s leadership in the confectionery business in Vietnam with the strong distribution network.

Through this partnership, the firm expected to introduce and expand products in Vietnam, he said.

Ezaki Glico Co., Ltd. is a Japan-based confectionery and food company established in 1922. In addition to chocolate, biscuits, sweets and gums, Glico has expanded its business portfolio to ice cream, processed food, milk products and beverages.

By Quoc Hung - The Saigon Times Daily