Urc Vietnam Company Limited (Vietnam)

The subject engages in manufacturing confectionery and beverages with its well-known brands (ready-to-drink tea C2, energy drink Rong Do, Cream-O & Magic biscuits, dynamite candies, Jack'n Jill Puff Corn and Chikki snacks). The subject is part of Universal Robina Corporation (Short name: URC), which is the biggest subsidiary of JG Summit. URC has five plants across Vietnam (three of subject, one of URC Central and one of URC Hanoi). Quality and safety are firmly embedded in URC's operations, as reflected in the international accreditations for the Quality Management System ISO 9001:2008, Environment Management System ISO 14001:2015, Food Safety System Certification FSSC 22000, Occupational Health and Safety Management System ISO 45001:2018. The recent opening of a Central Laboratory further bolstered URC's dedication to quality. Demand for beverage consumption grew steadily after the Covid-19 pandemic when activities were reopened. The revenue of Vietnam's beverage industry in 2023 is estimated to reach USD 8.25 billion, this number will likely reach USD 10 billion by 2027. Vietnam's beverage market is concentrated when the total market share of the 5 largest companies in 2022 accounted for about 57%. Pepsico maintained its leadership position in the beverage segment (by value). In terms of segments, Pepsico also led in segments such as carbonated drinks, fruit juices, bottled water and sports drinks. The second place in 2022 belonged to Coca-Cola Vietnam; accounted for a large market share in the segments of carbonated drinks, bottled water and fruit juices. Tan Hiep Phat and URC Vietnam led in the Instant Tea segment while Red Bull ranked first in the energy drink segment.