Japanese conglomerate Marubeni has acquired Bubbies Homemade Ice Cream & Desserts, marking its entry into the US ice-cream manufacturing market.
Headquartered in Arizona, Bubbies began as a Hawaiian ice-cream shop in 1985 and started commercial ice-cream production on the US mainland in 2018.
In 2017, the mochi-style ice-cream maker was acquired by Kenex Holdings, with founder Keith Robbins retaining a “significant investor” role.
Bubbies will now become a wholly owned subsidiary of Marubeni. The financial terms of the transaction were not disclosed.
In a statement today (30 June), Marubeni said the deal will “result in the delivery of high value-added food products to the growing US food market”, with the Tokyo-headquartered group “aiming to further expand its food business” in the US by “building on these efforts”.
The company believes the US food market is “one of the largest in the world and is expected to maintain steady growth into the future”.
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By GlobalDataMarubeni went on to say that the novelty ice-cream segment, particularly products such as Bubbies’ mochi-wrapped ice cream, is anticipated to grow “significantly” faster than the overall food market.
Bubbies is expanding its sales network through major US supermarket chains. Its products align with consumer trends towards “natural” and “healthy” options, according to the statement.
In a separate statement, Bubbies said the sale to Marubeni would “fuel Bubbies’ next phase of growth”.
CEO Jeff Stites added: “Marubeni is a global organization with values that align to our own. They possess the perfect mix of resources and expertise needed as we look to accelerate our growth long-term.”
Marubeni reported a net profit of Y503bn ($3.49bn) for the financial year ended 31 March 2025, with its food and agri business contributing Y68.9bn. The company forecasts 16.1% growth to Y85bn for the division in the current financial year.
Overall revenue for the group in fiscal 2025 amounted to Y7.79tn, up 7% on the previous 12 months.
Marubeni said it aims to “leverage the knowledge and expertise gained from its food manufacturing and distribution businesses in Japan and the ASEAN region to further expand the scale of Bubbies’ business and improve profitability”.
The Japanese company’s US operations encompass an array of food products and ingredients, such as grains, pulses, and vegetable oils, along with coffee, meat, and seafood.
The company’s portfolio includes Eastern Fish Company, alongside Creekstone Farms Premium Beef and Columbia Grain International.
