Shidax Corp. said Tuesday it will start catering services for corporate customers in Vietnam by forming a capital tieup with a local company.
Shidax said it will acquire 35 percent of outstanding shares in Galaxy TSC Co., a Ho Chi Minh City-based catering firm that now provides an average 50,000 meals a day, mainly to Japanese firms and factories operating in the fast-growing country.
With the investment, Shidax said it will become the first foreign company to enter Vietnam's catering industry since the country became a member of the World Trade Organization in 2007.
The Vietnamese firm's name will be changed to Galaxy Shidax Co., the Japanese firm said, adding it aims to provide 200,000 meals a day in 2017.
Shidax wants a foothold in Vietnam in light of growing corporate needs for catering services, especially among Japanese manufacturers setting up bases in and around Hanoi and Ho Chi Minh City.