Mitsui & Co., Ltd. has invested into Hong Kong’s coffee and tea provider Tsit Wing International Holdings Limited.
The two companies will expand their business into the food and beverage market in Hong Kong and China.
Mitsui bought less than 20% stake from Tsit Wing Group’s sole shareholder, Hero Valour Limited, which is owned by the chairman and CEO of Tsit Wing Group Dr. Peter Wong.
Mitsui becomes the second largest shareholder of Tsit Wing Group while Hero Valour Limited remains the largest after the deal.
The total consideration is approximately JPY2.2 billion (US$0.02 million) and Mitsui will get customer access to Hong Kong and Southern China restaurants and food services sector for selling various products sourced from Japan and the global network through Tsit Wing Group.