KIDO Group Corporation (HoSE: KDC) will present to the extraordinary general meeting of shareholders the ownership of the brands/trademarks KIDO, Merino, Celano.
KIDO's ice cream production line - PHOTO: KDC
KIDO Group Corporation has just announced documents for the 2024 extraordinary general meeting of shareholders, scheduled to be held on January 24, 2025.
On January 17, 2023, KIDO issued a Resolution to find a partner to transfer 24.03% of KIDO Frozen Foods Joint Stock Company (Kido Foods). After the transaction, KIDO only holds 49% of Kido Foods.
According to KIDO's board of directors, this is a significant transaction and because it is not clearly regulated in the Enterprise Law and the company's charter, it needs to be considered by the congress. Therefore, this needs to be considered and commented on by the upcoming congress.
According to information announced by Nutifood, with 51% ownership, Nutifood has become the parent company, taking control of Kido Foods.
Kido Foods is a company that owns a series of famous brands in the ice cream and frozen food industry, including Merino and Celano.
After selling shares and Kido Foods has become an affiliated company, KIDO will propose to this general meeting of shareholders to approve the plan to retain ownership of the KIDO, Merino, Celano... brands in this group.
The reason is to protect brand value and protect the legitimate rights of the brand.
At the same time, the right to use/authorize a third party outside of KIDO and its subsidiaries to use.
Intellectual property rights are increasingly important and brands are considered the "soul" of a business.
Therefore, KIDO has prepared and invested in preserving this intangible asset.
Since the beginning of 2022, KIDO has transferred all brands and trademarks from subsidiaries and member companies to the group.
These companies include Vietnam Vegetable Oils Industry Corporation, Tuong An Vegetable Oil Joint Stock Company, Kido Foods, Kido Nha Be Company Limited.
Among them, there are 34 brands and trademarks from Kido Foods such as Merinox, Merino Yeah!, Celano, Wel Yo, Hallo...
Along with that, at the end of December 2023, KIDO was transferred all industrial property rights from Kido Foods. Since then, the Merino brand has been owned and managed by KIDO.
The Merino brand was established in 2003 after KIDO acquired Wall's ice cream.
KIDO leads the ice cream industry in Vietnam, with 44.5% market share and is the leader in margarine with 74.9%.
According to its 2023 annual report, the group supplies the market with about 24 million liters of ice cream annually.
Source: https://tuoitre.vn/nutifood-kiem-soat-kido-foods-sao-thuong-hieu-kem-merino-celano-lai-thuoc-ve-kido-20250104094641799.htm
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