Ajinomoto Acquires French Frozen Food Group Labeyrie
Japanese food company Ajinomoto has completed its acquisition of French frozen food group Labeyrie Traiteur Surgelés.
The €27 million deal was finalised through the company's consolidated subsidiary Ajinomoto Foods Europe.
Based in Le Neubourg, Labeyrie Traiteur Surgelés manufactures and sells chilled foods such as fois gras and smoked salmon, and achieved sales of approximately €50 million last year.
Ajinomoto, which manufactures a range of seasonings, processed foods, beverages, amino acids and pharmaceuticals, says that the acquisition will further strengthen its consumer food business in Europe and accelerate its growth.
The company adds that it has a key strategy of ensuring growth in its food products business with a stronger regional portfolio, and aims to become the top business in the Asian frozen foods market, by rolling out its products in North America and Europe.
Ajinomoto currently operates in 30 countries and regions, and generated net sales of JPY 1,091.1 billion (€8.24 billion) in 2016.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.