The acquisition enhances Mitsui's offerings of value-added, prepared food products in the US food market
Mitsui & Co., Ltd. and KENKO Mayonnaise Co., Ltd., a Japanese food manufacturer, announced that they have jointly acquired 100% of the shares of Hans Kissle Company, LLC ("Hans Kissle"), a food manufacturing and sales company in Haverhill, Mass. The total investment is approximately $108 million, and the acquisition of the shares was completed through a special purpose company, MKU Holdings, Inc. ("MKU", Mitsui: 80%, KENKO Mayonnaise: 20%) on Dec. 31, 2018. The acquisition enhances Mitsui's offerings of value-added, prepared food products in the US food market.
Demand for food that is more safe, secure, 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. Amid this trend, the US prepared foods market is growing approximately 8% a year.