Vinamilk plans purchase of French company

09:20 | 02/03/2015 Companies

Vinamilk (VNM) is planning to acquire a French business, aiming at expanding production and export to the European market, a source from the company said.

In 2014, Vinamilk purchased 70 percent of US-based company for 7 million USD, which contributed 2.6 trillion VND (122 million USD) to the company's total 1.7 billion USD revenue in 2014.

Previously, the Vietnamese dairy company also invested in Cambodia and New Zealand.

Earlier this year, Vinamilk set up a 3 million USD subsidiary in Poland. Its goal is to become one of the world's 50 largest dairy businesses.

VNM stocks jumped 1.9 percent to 109,000 VND (5.1 USD) on February 27