On October 17, 2014, Mitsui & Co. acquired less than 20% share of Tsit Wing International Holdings ("TWIH"), a food and beverage ingredient supplier for the foodservice industry in Hong Kong and Southern China.
TWIH is a leading supplier of coffee and tea products in Hong Kong and Southern China, covering 5,000+ foodservice customers, ranging from fast-food chains and restaurants such as McDonald’s and KFC, to hotels and airlines such as Sheraton and China Southern Airlines. The company was assigned the role of official supplier for the 2008 Beijing Olympics, and also deals with sugar, dairy products, meat and marine products. Mitsui’s business relationship with TWIH spans more than 30 years, which has now led to the conclusion of this investment.
The food and beverage ingredients market for the foodservice industry in China amounts to approx. JPY12 trillion, with 10% CAGR anticipated. Through this investment, Mitsui gains direct access to local foodservice industry players, and will work to meet the needs of TWIH's customers and expand its business by merging TWIH's product development capabilities with Mitsui's global sourcing platform.