Vietnam’s food giant Kido to acquire 41% stake in operator of HCMC mall

Kido Group (HoSE: KDC), a leading food company in Vietnam, has announced its plan to acquire a 41% stake in Bac Binh Construction Investment JSC, the operator of Van Hanh Mall – one of the largest shopping centers in Ho Chi Minh City.

The plan was approved the company's board of directors on Tuesday. The acquisition, part of Kido’s phase-one investment, will turn Bac Binh into an affiliate of the food giant.

Located in District 10, Van Hanh Mall spans 90,000 square meters in total construction area, with 55,000 square meters of retail space. It houses a wide range of leading international and domestic brands.

The majority shareholder of Bac Binh is Tran Le Nguyen, CEO of Kido Group and chairman of Kido’s subsidiary Tuong An Vegetable Oil JSC.

As of mid-2025, Kido has six subsidiaries and holds stakes in six affiliated companies. The group has set a full-year revenue target of VND13 trillion ($497.7 million) and a pre-tax profit of VND800 billion ($30.6 million).

This year, Kido also plans to seek strategic partners to invest in retail real estate, shopping malls, office buildings, and residential projects.

In the first quarter of 2025, Kido posted net revenue of VND2.15 trillion ($82.3 million), up 18% year-on-year. However, it reported a net loss of VND75 billion ($2.87 million).

Kido shares closed up 0.36% to VND55,500 ($2.12) each on Thursday.