Sector News

Mondelez International Sells Interests in Japanese Coffee Joint Venture to Partner Ajinomoto

March 2, 2015
Food & Drink
/PRNewswire/ – Mondelez International, Inc. today announced that, as part of its ongoing efforts to further focus its portfolio on snacking products, it has reached an agreement to sell its 50 percent interest in Ajinomoto General Foods, Inc. (AGF) to its joint venture partner, Ajinomoto Co., Inc. AGF manufactures and sells instant, ground and liquid coffee products as well as other beverages in Japan under brands mainly licensed by Mondelez International, including Blendy and Maxim.
 
In May 2014, Mondelez International announced its intention to combine its coffee business with D.E Master Blenders 1753 to create the world’s leading pure-play coffee company, to be named Jacobs Douwe Egberts (JDE).  As part of this, Mondelez International’s Japan joint-venture partner, Ajinomoto, was invited to join JDE. During these discussions, Ajinomoto expressed a strong interest in acquiring Mondelez International’s shares in AGF.
 
Upon closing of the stock purchase agreement, Mondelez International will receive pre-tax cash proceeds of ¥27 billion. The AGF transaction is scheduled to close by the end of April 2015, subject to limited closing conditions. The stock purchase agreement with Ajinomoto will not have any impact on the proposed JDE transaction, which is expected to close later this year.
 
In 2013, AGF generated more than ¥100 billion1 in net revenue. It has 700 full-time employees and two factories in Gunma and Suzuka, Japan.
 
Source: Mondelez International

comments closed

Related News

May 27, 2023

Adventure and novelty identified as 2023 flavor trends

Food & Drink

Kerry’s 2023 flavor insights report reveals the latest foodservice flavor trends consumers are seeking, including new combinations of traditional tastes, indulgence, and younger consumers seeking unconventional mashups of food and beverages they grew up with in combination with emerging flavors from other regions.

May 27, 2023

Nestle names new head of operations

Food & Drink

Stephanie Pullings Hart has been named deputy head of operations at Nestle SA, effective July 1. She will succeed Magdi Batato, who is set to retire after a 30-plus-year career at Nestle. Ms. Pullings Hart is currently senior vice president of operations at Warby Parker, where she is responsible for manufacturing, supply chain and customer experience.

May 27, 2023

Givaudan harnesses AI to develop “futurescaping platform” to forecast future food

Food & Drink

Customer Foresight can identify early indications about impending future shifts that will impact the food and beverage industry. According to Givaudan, it is designed to support customers in understanding, planning for and addressing disruptive changes in consumer desires, guiding strategic planning, and leading to co-creation opportunities.

How can we help you?

We're easy to reach