Mondelez Int'l. To Buy 80% Stake In Kinh Do's Snacks Business In Vietnam

(RTTNews) - Mondelez International Inc. (MDLZ) said it would acquire an 80 percent stake in Kinh Do Corporation's category-leading snacks business in Vietnam, subject to the approval of Kinh Do Corporation's shareholders.

The landmark investment in Vietnam's fast-moving consumer goods industry would leverage Kinh Do's manufacturing capabilities, comprehensive distribution network and some of the best Vietnamese talent in the industry. Kinh Do's well-loved brands include Kinh Do mooncakes and biscuits, Cosy biscuits, Solite soft cakes and AFC crackers. These brands complement Mondelez International's portfolio of iconic snacks brands in the region, including Oreo cookies, Ritz crackers and Cadbury chocolates.

The proposed transaction may be complete in the second quarter of 2015.