JAPAN/US: Burrito buy to meet demand for wider range - House Foods
Japan's House Foods has said its acquisition of US soy food firm El Burrito Mexican Food Products will help it meet demand from its customers for it to provide a wider range of items.
Shinichi Hinotsu, vice president of sales and marketing at House Foods' US subsidiary, told just-food the company's retail customers had wanted the company to broaden its product range.
"There has been a high demand for us [to expand the range] as consumers want to have a one-stop shopping experience, and we are excited to provide more variety through this recent acquisition," Hinotsu said.
House Foods announced last week it had snapped up El Burrito for an undisclosed sum. It said El Burrito had "pioneered" the sale of soy products with "traditional Mexican flavour". The deal will see House Foods expand its portfolio to include soy lines like El Burrito's Soyrizo range.
Hinotsu said Soyrizo's recent sales had been "stable" but insisted it would remain a "core product" in the El Burrito portfolio. He said House Foods expected the deal to improve its profits in the US.
- Why Arla upbeat about LatAm prospects
- M&A Watch - Could Cloetta be takeover target?
- Comment: Can Applegate retain trust under Hormel?
- How the Applegate acquisition will benefit Hormel
- Sweets & Snacks Expo: just-food's pick
- Yildiz eyeing further deals - reports
- Weetabix gets new private-equity investor
- PAI, Pamplona "eyeing Bakkavor stake"
- FrieslandCampina ends Bongrain German tie-up
- Wal-Mart acts on animal welfare, antibiotics
- Successful New Product Development Strategies in the Food, Drinks and Personal Care Market
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- The Future of the Ice Cream Market in the United Kingdom to 2019
- Consumer Foodservice in Indonesia
- Marks & Spencer (Asia Pacific) Ltd in Retailing (Hong Kong, China)