(VOV) - The Japanese Sojitz Group plans to cooperate with its fellow food agency to buy Huong Thuy Trade, Services and Production Company and use its infrastructure to expand shares in Vietnam.
Sojitz which is currently holding 25.01 percent of Huong Thuy’s shares will buy an additional 25.99 percent of shares while its fellow agency, Kokubu will purchase 19 percent of shares.
Accordingly, Sojitz will become the biggest shareholder of Huong Thuy and will turn it into Sojitz’s subsidiary company.
Sojitz plans to raise Huong Thuy’s sales revenues from 4 billion yen in 2011 to 20 billion yen in 2016 and build a supply chain to Myanmar and Cambodia and then to the whole of Southeast Asia.
Huong Thuy Company in Ho Chi Minh City is Vietnam’s biggest food retailer which provides different kinds of foods and drinks for around 40,000 shops across the country.