Ho Chi Minh City, January 15^th, 2026

• A €16.7 million investment to double production capacity to 20,000 tons per year of Kiri® and The Laughing Cow® in Vietnam.
• This expansion responds to strong and accelerating demand in Vietnam and across the region.
• Vietnam becomes Bel’s key industrial and export hub in Asia, supporting the Group’s long-term growth in the region.

Bel Group today announced the expansion of its production site in Vietnam, marking a major new milestone in its long-term development in the country and across Asia. The ceremony was held in the presence of Stéphane Dupays, Chief Operations Officer of Bel Group, Jean-Christophe Coubat, Chief Asia Officer of Bel Group, Thibaut Giroux, President of the French Chamber of Commerce and Industry in Vietnam, representatives of local authorities as well as institutional and business partners.

A major industrial milestone to support long-term growth

This €16.7 million investment will enable Bel to double its production capacity to 20,000 tons per year, strengthen the Group’s industrial expertise, and support a market share exceeding 70% in the cheese category across both modern retail and traditional trade, driven by a diversified portfolio of brands, largely produced locally, including The Laughing Cow®, Belcube® and Kiri®. Construction will begin at the end of January 2026, with building hand-over scheduled for March 2027.

Thanks to Bel’s ability to adapt its products to local market specificities, the site will serve key export markets across Southeast Asia, China, Japan and the Kingdom of Saudi Arabia.

The expansion will also include a pilot line dedicated to Research, Innovation & Development (RID), designed as a key lever to accelerate product innovation, optimize recipes and test new formats tailored to regional usage patterns and nutritional needs. This pilot line will enable Bel teams to conduct industrial trials, enhance the Group’s agility in deploying innovations, and support the development of more accessible and responsible products for regional markets.

The project will also generate a significant impact on local employment, with headcount expected to increase from 188 employees today to approximately 400 in the long term.

Vietnam at the heart of Bel’s development strategy in Asia

Present in Vietnam since 2011, Bel has built an integrated industrial model combining production for the domestic market with export-oriented capabilities, enabling the Group to serve Southeast Asia while remaining closely aligned with local consumer needs. Starting with an initial production capacity of approximately 4,000 tons per year, the Group invested nearly €13 million in 2015 to build a new plant with a capacity of 10,000 tons per year, equivalent to more than three million portions per week, primarily under The Laughing Cow® brand (Con Bò Cười®).

Asia plays a central role in Bel’s global growth strategy. The Group has strengthened its regional footprint through targeted investments, including the acquisition of a 70% stake in Shandong Junjun Cheese in China in 2022 and the inauguration of a new production facility dedicated to Britannia The Laughing Cow® in 2024. In Indonesia, Bel has acquired a 22.5% minority stake in Mulia Boga Raya, combining Bel’s global expertise with deep local market knowledge.

On this occasion, Stéphane Dupays, Chief Operations Officer of Bel Group, stated: “Vietnam is one of Bel’s most dynamic markets in Asia and a cornerstone of our regional strategy. This expansion reflects our long-term confidence in the country and our ambition to make Vietnam a major industrial hub serving local consumers and the entire ASEAN region, while maintaining the highest standards of quality, safety and sustainability.”

Thuan Dang Huu, Industrial Director for Northeast Asia at Bel Group, added: “Vietnam’s success is a powerful driver of our growth in Asia. Thanks to highly committed local teams, tailored products and a strong export model, Vietnam has become central to Bel’s regional development. This new investment will allow us to accelerate growth and continue delivering nutritious, accessible and sustainable products to millions of consumers.”

About the Bel Group

The Bel Group is a major player in the cheese, fruit and plant-based snacking segment, which mission is to provide healthier and more sustainable food for all.

Its portfolio of differentiated and internationally recognized brands includes The Laughing® Cow, Kiri®, Babybel®, Boursin®, Pom'Potes® and GoGo squeeZ®, as well as some twenty local brands.

Together, these brands enabled the Group to achieve sales of €3.7 billion in 2024. Around 11,000 employees in 60 subsidiaries around the world contribute to the Group's mission. Bel products are manufactured at 30 production sites and distributed in more than 120 countries.

www.groupe-bel.com

Press contact

Bel Group

Mélanie Rigaud – 06 88 42 42 59 – [email protected]