KIDO Group (KDC) has just officially increased its ownership ratio at Tho Phat International Joint Stock Company (Tho Phat) to 68% of charter capital. Mr. Tran Le Nguyen - Vice Chairman of the Board of Directors and General Director of KIDO - said that Tho Phat will be an important piece of KIDO's strategy to expand the bakery industry.
According to KIDO, after acquiring Tho Phat International, most of the company's personnel will still be maintained. Mr. Tran Quoc Nguyen - Member of the Board of Directors and Deputy General Director of KIDO - will become General Director of Tho Phat International. At the same time, KIDO also added a Vice President and technical leader to the company.
Mr. Vu Phuoc Tho - Founder of Tho Phat dumpling brand.
Sharing about this deal for the first time, Mr. Vu Phuoc Tho - Founder of Tho Phat Brand - said: "Tho Phat is the brainchild that my colleagues and I have devoted ourselves to building over the past 35 years.
I know Mr. Nguyen's reputation (Tran Le Nguyen - PV) in the industry, as well as KIDO's successful M&A deals and their position in the food market. I understand KIDO's brand development capacity."
Another reason for Mr. Tho's decision to sell his "brainchild" is because he has no heir to Tho Phat.
"I have two children, one in the restaurant industry and one in sports , so there is no F2 generation passionate enough to take over Tho Phat. I am also at retirement age" - said the founder of the dumpling brand.
It is known that Tho Phat currently has more than 4,000 points of sale in Ho Chi Minh City. The company specializes in producing and distributing dumplings, rice cakes, sticky rice, baked cakes, fried cakes... The enterprise owns a factory in Ho Chi Minh City with an area of more than 22,000 m2, with a capacity of 10,000 tons of products/year.
KIDO is a food business group. According to data cited by Euromonitor that the company announced, KIDO is leading the ice cream market with a market share of 44.5%, of which the Merino brand accounts for 24.2% and the Celano brand accounts for 19.2%.
With a market share of 74.9%, KIDO also leads the margarine industry in Vietnam, and ranks second in the cooking oil industry with about 30% market share (by ownership and control ratio).
In 2021, KIDO officially returned to the bakery industry with the KIDO's Bakery brand after 5 years of selling the confectionery segment to Mondelez International.
After Tho Phat, KIDO continues to seek M&A deals to realize its ambition of returning to the Top of the confectionery industry by 2025 with the criteria of selecting units that do not overlap with the current portfolio.
As for Tho Phat, in the coming time, KIDO aims to develop 1,000 agents, 1,200 Mini Bao stores, 100,000 retail points and 100% MT stores (Modern Trade - modern stores) nationwide.
The long-term goal is to build Tho Phat brand to become "National Kitchen" in Vietnam and export to countries around the world .
This kitchen not only includes dumplings, but also develops convenient products such as packaged vegetables and fruits, as well as expanding into the spice and butter industries...
"Vietnamese people who go abroad often bring instant noodles because they are afraid they won't be able to eat local food. Therefore, the consumer trend will be for convenient products that can be eaten by pouring boiling water or heating them.
With the upcoming national kitchen plan, we will increase to 10,000 points of sale from North to South," said Mr. Nguyen.
According to Tri Tuc - CafefSource: https://kdc.vn/tin-tuc/tin-tuc-su-kien/ong-chu-banh-bao-tho-phat-lan-dau-chia-se-ly-do-ban-minh-cho-kido
Comment (0)