Mitsubishi Taking Kirin's Domestic Food Flavor Unit
Mitsubishi Corp. will acquire Kirin Holdings Co.’s domestic food flavoring unit.
March 18/Tokyo/Bloomberg -- Mitsubishi Corp. will acquire Kirin Holdings Co.’s domestic food flavoring unit for 30.5 billion yen ($321 million) to expand in consumer businesses.
The trader agreed to buy 81% of Kirin Kyowa Foods Co. in June and the rest in January 2015, Tokyo-based Mitsubishi said in a statement. The deal will expand the range of businesses at Mitsubishi’s Life Sciences division. The unit, formed two years ago, focuses on seasoning, sweeteners and fermentation technology, the company said in the statement.