Ajinomoto has signed a share purchase agreement to acquire a 50.1% equity stake in More Than Gourmet Holdings (MTG) for a strategic partnership through Ajinomoto’s consolidated subsidiary Ajinomoto Health & Nutrition North America (AHN). By augmenting this U.S. liquid seasonings business and its associated sales channel for foodservice and restaurant customers through the combination of Ajinomoto’s proprietary ingredients and technologies with capabilities to make proposals to customers in the United States, Ajinomoto will enhance the Ajinomoto’s Integrated Food Solutions business in North America.
Ajinomoto has strengths in savory powdered seasonings and “deliciousness technologies” cultivated over many years of research and has established good relationships with over 500 customers including processed food manufacturers and foodservice and restaurant companies. Meanwhile, MTG’s liquid seasonings business, including broths and sauces, is familiar with the trends and preferences of U.S. consumers and has strong connections with processed food manufacturers and foodservice and restaurant companies.
Ajinomoto will utilize the menu customization capabilities in the foodservice and restaurant market as well as the direct sales channel to foodservice and restaurant companies it will acquire through this partnership and combine them with its own ingredients and taste and texture technologies. By doing so, Ajinomoto aims to expand its Integrated Food Solutions business in North America and establish a new specialty.
The acquisition is expected to be completed this month. Ajinomoto plans to maintain MTG’s current management structure after the share acquisition.