Japanese food group Morinaga & Co has struck a deal to buy My/Mochi Ice Cream, marking its “full scale” entry into the US frozen-dessert market.
In a statement released yesterday (9 March), Morinaga said the acquisition builds upon its expansion in the US, which the company calls a “priority” growth market.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company is already investing more than $130m in a new production plant in Mebane, North Carolina. Due to open in 2027, the factory will boost production of its Hi-Chew candy brand.
Morinaga is to buy all shares of MyMo Holdco, which indirectly holds all interests in My/Mochi, for $130m.
US private-equity firm Lakeview Capital bought My/Mochi from Century Park Capital Partners in 2020.
Teruhiro Kawabe, the president and CEO of Morinaga America, said: “In welcoming My/Mochi to the Morinaga family, we see a tremendous opportunity to build a sustainable snacking business positioned for future growth.”
My/Mochi, which traces its roots to Japanese confectionery traditions, was first introduced in Los Angeles in 1993. The brand’s portfolio also includes non-dairy frozen novelties and mochi sorbets, available in more than 20 flavours.
For the fiscal year ending June, the company generated net sales of $60m and adjusted EBITDA of $10m, Morinaga said.
According to the Tokyo-based firm, the companies will together “accelerate innovation and unlock new growth opportunities” in the “fast-growing” frozen snack category.
The deal also supports Morinaga’s 2030 business strategy, which aims to transform the company into a “wellness company” by expanding high-growth segments, with a particular focus on the US market.
My/Mochi will remain headquartered in Los Angeles under the leadership of president and CEO Craig Berger.
He said the deal will help the brand reach a “broader group of consumers.”
“We are thrilled to partner with Morinaga & Co., Ltd., a globally reputable company, whose scale and research and development capabilities will enhance our ability to innovate and grow.”
Morinaga anticipates “new synergies in product development, marketing and distribution” in the American market from integrating My/Mochi.
Through Morinaga America, the company already distributes confectionery brands such as Hi-Chew, Hi-Soft, and Chargel in the US.
In Japan, Morinaga operates food business subsidiaries, including frozen desserts specialist Morinaga Angel Dessert Co. and Takasaki Morinaga Co., which produces Hi-Chew for the domestic market alongside biscuits, sweets, and chocolates.
The company also offers In Jelly products in Japan, Taiwan, Hong Kong, and Singapore, in addition to its Chargel energy gels in the US.
