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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo; President and CEO: Tatsuo Yasunaga) and KENKO Mayonnaise Co., Ltd. ("KENKO Mayonnaise"), a Japanese food manufacturer, announced today that they have jointly acquired 100% of the shares of Hans Kissle Company, LLC ("Hans Kissle"), a food manufacturing and sales company in Haverhill, Massachusetts, U.S.A. The total investment is approximately US$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 December 31, 2018. The acquisition enhances Mitsui's offerings of value-added, prepared food products in the large and growing U.S. food market.
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 U.S. has expanded in recent years, driven by population growth and changing food preferences due to increasingly diverse consumer lifestyles. Amid this trend, the U.S. prepared foods market is growing approximately 8% a year.
Hans Kissle, founded in 1984, develops, manufactures, and sells a wide range of high-quality, wholesale delicatessen main and side dishes, desserts, and other prepared foods for supermarkets and grocery stores in the Northeastern United States. Hans Kissle's strong track record in producing safe, secure, and delicious food products, achieved through a high level of quality control built over decades, has enabled the company to steadily expand its business in the growing U.S. prepared foods market.
The "Retail Services" is defined as part of the strategic growth area for Mitsui, as set forth in its Medium-term Management Plan announced in May, 2017. Through these and other measures, Mitsui aims to reinforce Hans Kissle's market position and expand its reach, channels, and territory to evolve in the U.S. prepared foods market.
|Name of Company||Hans Kissle Company, LLC|
|Head Office||Haverhill, Massachusetts, U.S.A.|
|Shareholders||Roche Family (founding family): 100%|
|Business Activities||Manufacturing and sales of food products in the Northeastern United States|