Deals this week: Kanemi, Ajinomoto, Nutrano
Kanemi has agreed to acquire the food manufacturing business from two Japan-based plants of Nagai.
The two plants are based at Adachi, Tokyo, and Akita, Akita Prefecture. The Adachi plant manufactures bread delicatessen products, whereas the Akita plant makes rice-based foods.
The revenues of the Adachi and Akita plants stood at $30.39m and $20.47m respectively for the year ending 31 March.
Ajinomoto has reached an agreement for the acquisition of trademarks currently licensed to Ajinomoto General Foods (AGF), and other rights from Jacobs Douwe Egberts (JDE) for €225m.
Ajinomoto acquired a 50% interest in AGF from Mondelez International last April.
Initially held by Mondelez, the trademark rights of AGF’ Blendy® and MAXIM® products are owned by JDE as it took over the coffee business from Mondelez.
Under the agreement, Ajinomoto will have rights on all trademarks licensed to AGF by JDE, including Blendy, Maxim, Triplesso, Chotto Zeitakuna, Tea Heart and Shin-Chajin.
The acquisition enables Ajinomoto to build an autonomous brand strategy and avoid the risk of termination of trademark licences.
Parrish and Heimbecker has received $7.4m in funding from the Canadian Government to build a new wheat flour milling plant in Hamilton.
Parrish and Heimbecker is Canada's second biggest flour miller by milling capacity.
The investment will enable the company to expand its production capacity, while meeting the customer demand for its agri-food products.