F&N eyes Vinamilk

Vietnam Dairy Products JSC, known as Vinamilk, is highlighted as a possible takeover target of Fraser & Neave Ltd, the beverage company controlled by Thailand’s richest man Charoen Sirivadhanabhakdi, according to a Bloomberg report.

Lee Meng Tat, F&N’s chief executive officer for non-alcoholic beverages, was quoted as saying that Vietnam’s largest milk producer is an example of what F&N wants in an acquisition: a company with market presence, well-known brands, and a strong distribution network, he said.

The agency reported that with cash growing to nearly US$745 million, F&N is searching for acquisitions to boost its market share in Southeast Asia.