The group, revealing the move in a press briefing yesterday, said that Tribeco is poised to grow into a regional leader in the beverages.

It also said it had firm plans to build two beverage plants in the southern Binh Duong and northern Hung Yen provinces, according to the Thanh Nien Daily.

Kinh Do may be looking to expand into other sectors to spread the risk of its current business - most of its revenue from confectionery sales comes in the last few months of the year.

Tribeco earned a profit of VND3 billion in the first nine months of the year. The company is said to have good brand recognition and a good distribution network.