Unilever to form JV with EAC in Myanmar

UK-based consumer goods firm Unilever is set to form a joint venture (JV) with Myanmar-based Europe & Asia Commercial Company (EAC) to support ongoing operations.

The Personal Care and Home Care businesses of Unilever Myanmar will be combined with the respective businesses of EAC to form a new joint entity, Unilever EAC Myanmar.

With annual sales in excess of €100m, the new company will manufacture, market, and distribute personal and home care products in the country.

Unilever's South-East Asia Australasia president Pier Luigi Sigismondi said: “In line with Unilever’s leadership in other South-East Asian markets like Indonesia, Thailand, Vietnam, Philippines, we see this JV as a critical milestone to further our growth vision in Myanmar.

"EAC has a strong heritage in Myanmar and we share a complementary product portfolio. Our partnership will allow us to scale up our Home Care & Personal Care businesses and enhance the lives of consumers in Myanmar with better health, hygiene and nutrition."

The complementary portfolio, increased rural penetration, and economies of scale are expected to be beneficial to both the firms.

The JV also intends to provide growth opportunities in the country through research and development (R&D), manufacturing investment, and market development.

EAC's chairman U Sein Myint said: “We are excited about the synergies that both businesses can leverage.

"Unilever’s global expertise in R&D, supply chain, and marketing, combined with our local manufacturing and distribution capabilities, makes this partnership attractive for us and strengthens our contribution to Myanmar."