Vinamilk is the largest dairy company in Vietnam. Based on the UNDP 2007 Top 200 largest firms in Vietnam report, it was also the 15th largest company in Vietnam and formerly the most valuable public company listed in Vietnam.[2] In 2010, it is the first company in Vietnam to be included in the Forbes Asia's 200 Best Under A Billion list that highlights 200 top-performing small- and mid-sized companies with annual revenue under US$1 billion.[3]

Vietnam Dairy Products Joint Stock Company (Vinamilk)
Vietnam Dairy Products JSC
TypeJoint-stock company
IndustryDairy products, juice
Headquarters10 Tan Trao, District 7, ,
Area served
Key people
Mai Kieu Lien - CEO
Productsliquid milk, condensed milk, powdered milk, probiotic, yogurt, ice cream, soft drinks
BrandsVinamilk, Dielac, Susu, Vfresh, Ong Tho, Probi
ServicesGeneral clinic, investing, real estate
RevenueIncrease 52.63 trillion VND (2018) ($2.2 billion)
Increase 51.135 trillion VND (2017) ($2.2 billion)[1]
Increase 10.278 trillion VND (2017)
Number of employees
6000 (2017)

The company was established in 1976 as the state-owned Southern Coffee-Dairy Company, to nationalize and take over the operations of three previously private dairy factories in South Vietnam: Thống Nhất (belonging to a Chinese company), Trường Thọ (formerly owned by Friesland Foods, best known for its production of condensed milk that was widely distributed across the South) and Dielac (Nestlé). It was renamed United Enterprises of Milk Coffee Cookies and Candies in 1978. It became the Vietnam Dairy Company, formally established in 1993. In 2003, following its IPO to the Ho Chi Minh Stock Exchange, the company legally changed its name to Vietnam Dairy Products Joint Stock Company (Vinamilk). The principal activities of the Vinamilk are to produce and distribute condensed milk, powdered milk, fresh milk, soya milk, yogurts, ice-cream, cheese, fruit juice, coffee and other products derived from milk.

Vinamilk products such as powdered milk and condensed milk are also exported to the Middle East, Cambodia, the Philippines and Australia. Exports accounted for $180m in 2012.[4] Vinamilk's main competitors are Dutch Lady Vietnam (a division of Friesland Foods), Nestlé Vietnam, Abbott, Mead Johnson (a subsidiary of Reckitt), Friso and Nutifood. In September 2016, Vinamilk signed a strategic cooperation agreement with Chr. Hansen to develop probiotics.[5]


Vietnam's State Capital Investment Corporation (SCIC) holds 36% of the shares as of late 2017. 7.58% are owned by other Vietnamese investors, of which 0.28% are owned by CEO Mai Kieu Lien. Foreign investors hold over 53% of the shares.

  • F&N Dairy Investments Pte Ltd: 16.50%
  • Jardine Cycle & Carriage, via Platinum Victory Pte. Ltd. (PVPL): 10.03%
  • F&N BEV Manufacturing PTE.Ltd: 2.70%
  • Matthews Pacific Tiger Fund 2.02%
  • Arisaig Asia Consumer Fund, Ltd 2.05%
  • Deutsche Bank AG, London Branch: 1.09%
  • other foreign investors: 30%

F&N have been holding shares of Vinamilk for a long time and have two representatives in the Board of Directors.[6]

Factories & SubsidiariesEdit

Vinamilk has factories in the following locations.[7]


Vinamilk has subsidiaries in the following locations.[8]

  • Vietnam Dairy Factory, Binh Duong province
  • Vietnam Powdered Milk Factory, Binh Duong province
  • Lam Son Dairy Factory, Thanh Hoa City, Thanh Hoa Province
  • Thong Nhat Thanh Hoa Dairy Cow Co., Ltd., Yen Dinh District, Thanh Hoa Province
  • Vietnam Dairy Cow One-Member Co., Ltd., District 7, Ho Chi Minh City
  • Angkor Dairy Products Co., LTD, Phmon Penh, Cambodia. Producer of major Cambodian dairy brand Angkormilk.[9]
  • Vinamilk Europe Sp.z O.O in Warsaw Poland. European operations, primarily to secure raw milk ingredients for domestic production.
  • Driftwood Dairy Holding Corporation, El Monte, California, USA. Major Californian processor of milk and dairy products.[10]

Major brandsEdit

  • Vinamilk
  • Dielac
  • Vfresh (juice and soya milk)
  • Angkormilk
  • Ong Tho (condensed milk)

Awards and AchievementsEdit

Forbes Global 2000: #1888[11] Forbes Asia's Fab 50:[12]

External linksEdit


  1. ^ "Vinamilk revenue up 14% in 2015 on strong overseas business". Archived from the original on 9 February 2016. Retrieved 9 February 2016.
  2. ^ "Top 10 Giants in Vietnam Stock Exchange". 23 August 2017.
  3. ^ "Asia's 200 Best Under A Billion". Forbes. 2010-09-01. Retrieved 2010-09-07.
  4. ^ "Vinamilk đạt 27.300 tỷ đồng doanh thu 2012". 16 January 2013. Archived from the original on 17 January 2013. Retrieved 17 January 2013.
  5. ^ "Denmark's Chr. Hansen to help Vinamilk develop probiotics". Retrieved 2017-10-11.
  6. ^ "VNM - Major Shareholders". Stockbiz Vietnam. Retrieved 6 December 2017.
  7. ^ "Vinamilk". Wikibiz. Archived from the original on 2012-11-17. Retrieved 2012-11-19.
  8. ^ "Vinamilk Subordinate Unit".
  9. ^ Vichea, Pang (27 March 2017). "Vinamilk to take full stake of Angkormilk".
  10. ^ VIR, Vietnam Investment Review - (27 August 2016). "Vinamilk acquires remaining 30% stake of US Driftwood Dairy".
  11. ^ "Vietnam Dairy Products".
  12. ^ "Asia's Fab 50 2018: China Squeezes Out Asia".