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Frozen Foods International News
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| Asian Food Company in US Acquired by Nichirei |
Nichirei Corporation, Tokyo, Japan, has decided to buy a 51%
stake in InnovAsian Cuisine Enterprises LLC, Tukwila,
Washington, USA, a growing presence in the Asian foods market in
the United States, including a retail frozen line.
"InnovAsian Cuisine is a company dedicated to great food with
quality ingredients," the company says at its website. "We offer
a line of premium heat & serve entrées, appetizers and side
dishes that are fully cooked, frozen and easily prepared in
minutes. Our convenient meals and signature sauces are flash
frozen separately to lock in freshness. Our line is sure to
please even the most discriminating shopper."
"We will aim at business expansion centered on Asian foods in
the United States market by exercising the overall capabilities
of Nichirei Foods as Japan's largest frozen food company while
optimizing the excellent business abilities of the management
and staff of InnovAsian Cuisine Enterprises LLC," said a
statement by the Nichirei board. "The US has a vast frozen foods
market. Specifically the Asian foods category, which has shown
remarkable growth in the US mainstream market, is considered to
be a promising market for Nichirei Foods."
InnovAsian Cuisine Enterprises was founded in 1999, and reported
sales of $42.4 million last year. Nichirei is paying $11 million
a majority interest, and the deal is expected to close June 30.
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| 15-May-12 |
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