[Top Page]

Link to other pages

[first sentense]

March 10, 2011

Kirin Expands Vietnamese Soft Drink Business

Tokyo, 10 March 2011 – Kirin Holdings Company, Limited (Tokyo, Japan; President and CEO, Senji Miyake; hereafter "KH") announced today the registration of its acquisition of shares in Trade Ocean Holdings Sdn. Bhd. (Malaysia: Director, Pang Tee Chiang; hereafter "TOH"), which holds 57.25% of the total outstanding shares*1 of soft drink manufacturer Interfood Shareholding Company (Vietnam: Chairman, Pang Tee Chiang; hereafter "IFS"), and Wonderfarm Biscuits & Confectionery Sdn. Bhd. (Malaysia: Director, Pang Tee Chiang; hereafter "WBC"), from the Pang family (founder family), on 10 March 2011. This investment will further bolster KH's international integrated beverage group strategy in the Asia and Oceania regions.

  • *1 Based on the number of shares as of 31 January 2011

KH acquired 100% of the total outstanding shares in TOH and 100% of the total outstanding shares in WBC, which manages the intellectual property used by IFS.

IFS is one of the most popular soft drink manufacturers in Vietnam, distributing its products through both modern and general trade channels. Currently, its products are sold in around 110,000 retail outlets nationwide across Vietnam. Vietnam's soft drink market, along with its economy and population, has been expanding rapidly, and is expected to keep growing.

KH's vision, as stated in its long-term business framework KV2015, is to become a leading company in Asia and Oceania in the area of food and health, and it has been pursuing its business strategy focused on growing profitability in these regions and areas. Through this acquisition, KH will further strengthen the foundation of its non-alcohol beverage business in Vietnam, and accelerate synergy realization to boost KH group's growth.

Outline of the Transaction

1. Subject of the acquisition: 100% of total outstanding shares in TOH and WBC
2. Timeline: Transfer of shares registered on 10 March 2011
3. Number of shares to be purchased 28,094,611 shares in TOH
(100% of total outstanding shares)
100 shares in WBC
(100% of total outstanding shares)

Outline of IFS

1. Company name: Interfood Shareholding Company
2. Registered office: Bien Hoa City, Dong Nai Province, Vietnam
3. Incorporation: 1991
4. Chairman: Pang Tee Chiang
5. Owners' Equity: USD 6MM (JPY 497MM*1)
Total Asset: USD 40MM (JPY 3,316MM*1)
  as of December 31, 2009
6. Sales: USD 56MM (JPY 4,642MM*1)
EBITDA: USD 6MM (JPY 497MM*1)
as of year ended December 2009
  • *1 USD = 82.90JPY (as of March 9, 2011)
  • Financial year end for IFS is December 31
7. Number of employees: c. 1,200
as of December 31, 2009
8. Main business: Soft drinks (94%), Food (2%), Others (4%)
Sales composition for the year ended December 2009
9. Main brand:
  • Soft drinks:Tea (Winter Melon Tea, etc.)
  • Fruit Juice (Passion Fruit Drink, Tamarind Drink, etc.)
  • Asian Specialty Drinks (Birds Nest, etc.)
  • Sold under Wonderfarm brand
10. Stock Exchange: Ho Chi Minh Stock Exchange (Ticker: IFS)

Outline of TOH

1. Company name: Trade Ocean Holdings Sdn. Bhd.
2. Registered office: Penang State, Malaysia
3. Director: Pang Tee Chiang
4. Main business: Holding company of 57.25% of the total outstanding shares in IFS

Outline of WBC

1. Company name: Wonderfarm Biscuits & Confectionery Sdn. Bhd.
2. Registered office: Penang State, Malaysia
3. Director: Pang Tee Chiang
4. Main business: Management of intellectual property used by IFS

  • Kirin Holdings Inquiry Form: http://www.kirinholdings.co.jp/english/customer/
  • Kirin Holdings Web Site: http://www.kirinholdings.co.jp/english/

[footer]

© 2007 Kirin Holdings Company, Limited.

Back to top