In early August 2014, Philippines’ Pilmico International Pte Ltd finalized the purchase of 70 percent of Vietnam\'s Vinh Hoan 1 Feed JSC, part of Vinh Hoan Corp, one of Vietnam’s leading aquatic product exporters. The remaining 30 percent is to be purchased by Pilmico over the next five years at an agreed price. The transaction value US$28 million.
Pilmico president and chief executive officer, Sabin Aboitiz said the company hoped the acquisition would pave the way for their entry into neighboring Laos, Cambodia and Myanmar, as they would be supplying their Vietnamese products to buyers along the Mekong River.
Pilmico, whose main business is flour milling and animal feed, is eying acquisitions ahead of 2015 ASEAN free trade agreement.