Vinamilk, formally the Vietnam Dairy Products Joint Stock Company (Vietnamese: Công ty Cổ phần Sữa Việt Nam, lit. 'Vietnam Milk Joint Stock Company') is the largest dairy company in Vietnam. Based on the UNDP 2007 Top 200 largest firms in Vietnam report, it was also the 15th largest company in Vietnam and formerly the most valuable public company listed in Vietnam.[2] In 2010, it is the first company in Vietnam to be included in the Forbes Asia's 200 Best Under A Billion list that highlights 200 top-performing small- and mid-sized companies with annual revenue under US$1 billion.[3]
The company was established in 1976 as the state-owned Southern Coffee-Dairy Company, to nationalize and take over the operations of three previously private dairy factories in South Vietnam: Thống Nhất (belonging to a Chinese company), Trường Thọ (formerly owned by Friesland Foods, best known for its production of condensed milk that was widely distributed across the South) and Dielac (Nestlé). It was renamed United Enterprises of Milk Coffee Cookies and Candies in 1978. It became the Vietnam Dairy Company, formally established in 1993. In 2003, following its IPO to the Ho Chi Minh Stock Exchange, the company legally changed its name to Vietnam Dairy Products Joint Stock Company (trading name "Vinamilk"). The principal activities of the Vinamilk are to produce and distribute condensed milk, powdered milk, fresh milk, soya milk, yogurts, ice-cream, cheese, fruit juice, coffee and other products derived from milk.
Vinamilk products such as powdered milk and condensed milk are also exported to the Middle East, Cambodia, the Philippines and Australia. Exports accounted for $180m in 2012.[4]
Vinamilk's main competitors are Dutch Lady Vietnam (a division of Friesland Foods), Nestlé Vietnam, Abbott, Mead Johnson (a subsidiary of Reckitt), Friso and Nutifood. In September 2016, Vinamilk signed a strategic cooperation agreement with Chr. Hansen to develop probiotics.[5]
Vietnam's State Capital Investment Corporation (SCIC) holds 36% of the shares as of late 2017. 7.58% are owned by other Vietnamese investors, of which 0.28% are owned by CEO Mai Kieu Lien. Foreign investors hold over 53% of the shares.
52.63 trillion VND (2018) ($2.2 billion)
