Nutifood controls Kido Foods, why do Merino and Celano ice cream brands belong to KIDO?

KIDO Group Joint Stock Company (HoSE: KDC) will present to its extraordinary general meeting of shareholders a proposal to retain ownership of the KIDO, Merino, and Celano brands/trademarks.

KIDO's ice cream production line - PHOTO: KDC

KIDO Group Joint Stock Company has just announced the documents for its 2024 extraordinary general meeting of shareholders, scheduled to be held on January 24, 2025.

On January 17, 2023, KIDO issued a resolution seeking a partner to transfer its 24.03% stake in KIDO Frozen Foods Joint Stock Company (Kido Foods). After the transaction, KIDO will only hold 49% of Kido Foods.

According to KIDO's leadership, this is a significant transaction, and because it is not clearly regulated in the Enterprise Law and the company's charter, it needs to be considered by the general meeting. Therefore, this matter requires further consideration and input from the upcoming general meeting.

According to information released by Nutifood, with a 51% ownership stake, Nutifood has become the parent company, taking control of Kido Foods.

Kido Foods is a company that owns a number of well-known brands in the ice cream and frozen food industry, including Merino and Celano.

After selling its shares and Kido Foods becoming an associate company, KIDO will propose to this shareholders' meeting to approve a plan to retain ownership of the KIDO, Merino, Celano... brands within the group.

The reason is to protect brand value and safeguard the brand's legitimate rights.

At the same time, the right to use/authorize a third party other than KIDO and its subsidiaries to use it.

Intellectual property rights are becoming increasingly important, and brands are even considered the "soul" of a business.

Therefore, KIDO has prepared and invested in preserving this intangible asset.

Since the beginning of 2022, KIDO has transferred all brands and trademarks from its subsidiaries and member companies back to the group.

These companies include Vietnam Vegetable Oil Industry Corporation, Tuong An Vegetable Oil Joint Stock Company, Kido Foods, and Kido Nha Be Company Limited.

These include 34 brands and trademarks from Kido Foods such as Merinox, Merino Yeah!, Celano, Wel Yo, Hallo...

In addition, at the end of December 2023, KIDO acquired all industrial property rights from Kido Foods. Since then, the Merino brand has been owned and managed by KIDO.

The Merino brand was established in 2003 after KIDO acquired Wall's ice cream.

KIDO leads the ice cream industry in Vietnam, with a 44.5% market share, and is the leader in the margarine segment with a 74.9% market share.

According to its 2023 annual report, the corporation supplies approximately 24 million liters of ice cream to the market annually.

Source: https://tuoitre.vn/nutifood-kiem-soat-kido-foods-sao-thuong-hieu-kem-merino-celano-lai-thuoc-ve-kido-20250104094641799.htm