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.
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