Mitsubishi Corporation-owned Indiana Packers Corporation has acquired US processed meat manufacturer Specialty Foods Group.
Kentucky-based Specialty Foods makes products such as ham, turkey, bacon, spices and hot dogs under its brands including Kentucky Legend, Fischer’s, Scott Pete, Mickelberry’s and Kentuckian Gold.
Indiana Packers said the acquisition will strengthen its foundation for growth and positions it to leverage synergies relating to raw materials, manufacturing and sales and marketing capabilities.
Headquartered in Delphi, Indiana Packers also operates pork processing facilities in Holland, Michigan, and Frankfort, Indiana.
Indiana Packers Corporation COO Russ Yearwood said: “We’re looking for ways to grow our business and adding SFG is strategically on-point.
“They’re a company with successful brands, outstanding people and smart business strategies. This acquisition will improve our position in a very competitive global protein market.”
Mitsubishi Corporation said its aim is to leverage its fresh food (meats and marine products) business to achieve sustained growth by building a strong production, procurement and sales network for fine animal protein products.
Combined with the know-how built up in meat production and processing across the Mitsubishi Corporation Group worldwide, it said this will help expand its livestock and meat business.
Earlier this month Mitsubishi bought an 80% stake in Japan’s Gourmet Delica from its current owner Kewpie Corporation.
Gourmet Delica manufactures pre-cooked rice for use in lunch boxes, most of which is sold to Lawson, an operator of Japan’s third largest chain of convenience stores and a Mitsubishi-owned company.
Source: FoodBev
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