F&N seeks acquisitions to bolster market share in South-east Asia

Singapore

FRASER & Neave Ltd, the drinks-maker controlled by Thailand's richest man Charoen Sirivadhana-bhakdi, is searching for acquisitions to bolster its market share in Southeast Asia after its war chest grew to nearly S$1 billion with sales of beer assets.

A potential target is Vietnam Dairy Products JSC, also known as Vinamilk, according to Lee Meng Tat, F&N's chief executive officer for non-alcoholic beverages. 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.