Meiji Holdings is to put Y10bn ($63.4m) into a project to manufacture Hello Panda biscuits as its plant in the US state of Pennsylvania.
The Japanese group plans to add the production of Hello Panda to its site in York where the business already makes Stauffer’s-branded biscuits.
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Meiji said the investment forms part of the company’s aim to double its sales in the US by its 2030 fiscal year when compared to its 2024 financial year. The group does not disclose sales figures for the US market.
Citing NIQ data, the group said the sales of Hello Panda had grown by more than a third in the year to 17 January.
The move will mean Meiji manufactures Hello Panda on the east coast of the US as well as in the west of the country.
The company said manufacturing Hello Panda at the York facility can lead to “smoother collaborations and flexibility with retailers”.
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By GlobalDataWithout providing figures, Meiji said the move would “create new jobs”, with manufacturing at the factory growing 50%.
The company also plans to “upgrade ageing existing facilities” at the plant.
Some $55m of the investment will go towards the production of Hello Panda. The remainder is to improve equipment that make brands including Stauffer’s Animal Crackers.
Just Food has contacted Meiji for further details.
In its statement, the group said it would install equipment at the site this year, with packaging starting in 2027 and full production in 2028.
In October 2024, the company set out plans to spend $28m building capacity for Hello Panda at another of its factories in the US.
The group said it would manufacture Hello Panda snacks at its site in Santa Ana in California.
The most recent financial results Meiji published were for the nine months to the end of December.
Sales inched up 0.8% to Y882.33bn. Operating profit grew 5.4% to Y70.06bn. Profit attributable to the owners of the parent decreased 11% to Y38.82bn.
In the stock-exchange filing to announce the results, Meiji, which also has interests in the pharma sector, reported a 1.3% rise in sales from its food business to Y711.1m. Divisional operating profit grew 8.4% to Y53.6bn.
