Japanese food group Mitsubishi Corporation has acquired a 34% share of Nissin Foods Indonesia, the local subsidiary of Nissin Foods Holdings.
The move builds on a strategic alliance between Nissin and Mitsubishi launched in May last year with the aim of strengthening the Nissin brand in the global instant noodle market. Under this agreement, Mitsubishi can hold a 34% interest in each of Nissin’s operations in Singapore, India, Thailand and Vietnam. With this latest investment in Nissin in Indonesia, Mitsubishi now holds voting interests in Nissin’s operations in five countries across the region, the company revealed.
Mitsubishi said that the deal would combine Nissin’s “advanced technical capabilities and product development strengths” with the “extensive sales network” held by Indonesian retail chain Alfa Group, also a strategic partner. In this way Mitsubishi will be able to “leverage its business platform in Indonesia to enhance product development and sales for the Nissin brand”. The group will aslo target neighbouring countries with “a similar Halal-based market” to expand exports.