Major Japanese soft drinks maker Itoen is pushing into the food sector, paying JPY10bn (US$12.2m) to fully acquire Chichiyasu, a Hiroshima-based dairy product maker.
“We hope the deal will enrich our product line to meet the increasingly diverse consumer tastes,” said a Tokyo-based Itoen spokesman.
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Established in 1886, Chiyayasu has long-been a yogurt supplier in the Chugoku area of west Japan.
“In the future, we will promote Chiyayasu’s products nationwide, and enhance our sales force in west Japan,” said the spokesman. He added that new brands will be launched, and a new vegetable juice plant is likely to be set up at Chiyayasu’s production site but details are still in discussion.
Itoen is known for bottled green tea and vegetable juices and has not before become involved in the highly competitive Japanese dairy market.
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