Yankershop, a Chinese snack food provider, is investing USD8 million to set up a subsidiary in Vietnam.
The new subsidiary, with the tentative name of North Latitude 11 Food Co., Ltd, will be responsible for the overseas production of Yankershop's tropical fruit products, nut products, fish products, and biscuit products. Yankershop will own a 100% stake in North Latitude 11.
Yankershop said that this investment in Vietnam is in line with the company's long-term development strategy and investment direction. It will optimize the company's product structure and production capacity, which is helpful to improve its market competitiveness and business efficiency and effectiveness.
It will also enhance and improve Yankershop's rank in the industry and bring various benefits to the development of the company.