The leading global agribusiness and food company Bunge Limited is forming a joint venture with Wilmar International in Vietnam. The collaboration is expected to create increased operating, marketing and logistics synergies across the Vietnam oils and soybean meal value chains.
Bunge Limited and Wilmar International Limited announced they are forming a joint venture in Vietnam to leverage both companies' footprints in Asia. According to the statement of Bunge, the company will sell 45% of its equity in its Vietnam crush operations to Wilmar, creating a three-party joint venture with Bunge, Wilmar and Quang Dung which is a leading soybean meal distributor in Vietnam and majority owner of Green Feed, a growing Vietnamese feed milling business.
The transaction establishes a strategic collaboration between three uniquely positioned leaders in the Vietnamese feed markets, unlocking growth potential by connecting Bunge's upstream crushing capabilities to Wilmar's downstream consumer products business, and to Green Feed's feed milling and marketing activities.
"Bunge is excited to partner with Wilmar, the largest downstream edible oils player in Vietnam," said Soren Schroder, CEO, Bunge Limited. "The collaboration will create increased operating, marketing and logistics synergies across the Vietnam oils and soybean meal value chains, and help us remain a low-cost operator with the highest efficiency possible."