Japanese conglomerate Mitsui & Co. and Kenko Mayonnaise, also from Japan, have acquired US prepared foods group Hans Kissle for US$108m.
The acquisition of the shares was completed through a special purpose company, MKU Holdings, in which Mitsui has an 80% stake and Kenko 20%.
Go deeper with GlobalData
Mitsui said its acquisition “enhances its offering of value-added, prepared food products in the large and growing US food market”.
It added: “Demand for food that is more safe, secure, and delicious, and can be eaten without the hassle of preparation, is growing more than ever before. The food market in the US has expanded in recent years, driven by population growth and changing food preferences due to increasingly diverse consumer lifestyles.”
Hans Kissle, founded in 1984, develops, manufactures, and sells a range of wholesale delicatessen main and side dishes, desserts, and other prepared foods for supermarkets and grocery stores in the north-eastern United States.
It also has branded products such as prepared salads and coleslaw.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMitsui said it aims to reinforce Hans Kissle’s market position and expand its reach, channels, and territory in the US prepared foods market.
Last March, Mitsui formed a strategic alliance in the US with seafood importer Mark Foods.
