Ajinomoto North America, Inc. (AJINA), a consolidated subsidiary of Ajinomoto Co., Inc. has entered into an agreement to acquire Texas-based frozen food manufacturer Windsor Quality Holdings for approximately US$800 million.
With the acquisition, AJINA expects to accelerate its growth to achieve its fiscal 2020 sales target of JPY 100 billion (US$0.94 billion) for its frozen food business in North America and secure its leading position in the Asian/ethnic frozen food market.
In developing countries, Ajinomoto Co. promotes products based on umami, flavor, menu-specific and other seasonings that appeal to the local tastes in each country or region.
In developed countries, such as the US and Europe, the company is specializing in more highly processed foods originating from Japan, with a lineup focused on Asian/ethnic frozen and processed foods adapted to local customer tastes.
The company says the frozen food market in North America is sizable valued at approximately US$40 billion.
Within this market, the growth of Asian/Ethnic and differentiated categories of healthy/high quality foods has been particularly robust in recent years.
Ajinomoto Co.’s frozen food business in North America, wwhich was set up in 2000, has grown to approximately US$130 million in sales, mainly comprised of products such as Gyoza (pot stickers), noodles and rice adapted to the local customers.
AJINA plans to acquire Windsor in early November 2014.
The Ajinomoto Group will retain Windsor’s current management structure after the acquisition.
