Ajinomoto Co. Inc., a Tokyo-based, a leader in high-quality processed foods and seasonings and a household name in Asia, has recently announced that it has entered into an agreement, through its subsidiary Ajinomoto North America, Inc., to acquire Texas-based Windsor Quality Holdings LP, a manufacturer of ethnic frozen foods in the U.S., including brands such as Ling Ling and Josè Olè, for USD800m.
The acquisition will enable Ajinomoto to combine its global strength in food manufacturing with Windsor’s strong market position, distribution network, sales capabilities and frozen food production facilities throughout the U.S. The transaction represents Ajinomoto’s largest acquisition to date.
“By combining Windsor’ s marketing power, knowledge of U.S. consumers, distribution and sales capabilities and production footprints throughout the U.S. with AJINA’ s strengths in healthy, high-quality and delicious frozen food products which are originating from Japan and supported by advanced technologies, Ajinomoto Co. will accelerate its growth to achieve its fiscal 2020 sales target of JPY 100 billion for its frozen food business in North America and secure its position as the clear No. 1 manufacturer in the Asian/Ethnic frozen food market”, says Ajinomoto in a statement.
Windsor has developed a broad distribution network in the US, with about 80,000 stores selling its products, including major retailers. It also has a strong food service operation with approximately 120,000 restaurants purchasing its products. In addition, Windsor has seven production facilities throughout the U.S. and strong brands/positions in Asian, Mexican, Italian and appetizer segments, holding the top share for Asian products.
With this acquisition, Ajinomoto Co. aims to become the No. 1 manufacturer of Asian/Ethnic food products in the surging Asian category of the North American frozen food market. In fiscal 2016, Ajinomoto Co. aims to achieve JPY190bn in worldwide sales in the frozen food business.