Ajinomoto acquires Amoy from Danone
This transaction includes the issued stock of Amoy Food Group, a shareholder loan from Danone Asia to Amoy Food Group as well as the intellectual property rights of Amoy Food Group business.
On completion of the transaction, Ajinomoto has acquired Chinese soy sauce business and frozen dimsum food business which Amoy Food Group operates in Hong Kong, North America and Europe. It has also acquired 60% stake in Chinese soy sauce joint ventures in China, Shanghai Amoy Foods Group, which are owned by Amoy Food Group.
Through this transaction, Ajinomoto has obtained a strong foothold as well as the “Amoy” brand which has significant awareness in Chinese ethnic sauce segment and frozen dimsum foods. On top of that, Ajinomoto will seek the opportunities of possible synergies among Amoy Food Group and Ajinomoto’s own operations.Upon completion of acquisition, Ajinomoto will assign some officers to Amoy Food Group to facilitate the above-mentioned synergies as soon as possible, however, it will retain the current independent management team to preserve its entrepreneurial corporate culture which gives high respect to diversity of nationalities and cultures.
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