Confectionery giant KIDO sells remaining 20 pct in snack unit to US’s Mondelez

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A product advertising billboard at a factory of KIDO Corp. in the northern province of Hung Yen. Photo credit: Reuters A product advertising billboard at a factory of KIDO Corp. in the northern province of Hung Yen. Photo credit: Reuters

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KIDO Corp., formerly Kinh Do Corp., announced Tuesday it has sold its remaining 20 percent stake in its snack business to the US’s Mondelez International Inc for VND2 trillion (US$89.8 million).
In November 2014 KIDO had sold 80 percent to Mondelez, the maker of Oreo cookies and Ritz crackers, for US$370 million.
KIDO Corp., headquartered in Ho Chi Minh City, produces biscuits, buns, snacks, cakes, moon cakes, ice cream and yogurt under the Kinh Do, AFC, Cosy, Solite, Merino, Wel Yo and other brand names.
It also produces instant noodles, cooking oil, soy sauce and condiments.

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