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Smoked salmon product of Labeyrie. (Photo: Labeyrie Traiteur Surgelés)
Ajinomoto completes acquisition of French frozen food firm
(JAPAN, 11/8/2017)
Ajinomoto Co., Inc. has completed procedures for the acquisition of all shares of French frozen food company Labeyrie Traiteur Surgelés S.A.S. (LTS). With this operation, the Japanese group intends to further strengthen Ajinomoto Co.’s consumer food business in Europe and accelerate its growth.
The EUR 27 million deal for the purchase was finalised through the Japanese company's consolidated subsidiary Ajinomoto Foods Europe.
The acquisition price takes into account factors, including the receivables held for LTS by Labeyrie Fine Foods S.A.S., its parent company. The purchased firm will be known as LTS S.A.S. as of November 2.
Located in Le Neubourg, France, manufacturer and seller of frozen foods LTS was established in 2010, the recorded year of acquisition of Brossard Frozen Food by Labeyrie Fine Foods S.A.S. Boasting figures of approximately EUR 50 million and capital of EUR 7 million, the company employed 307 people as of September 30, 2017.
Ajinomoto manufactures a range of seasonings, processed foods, beverages, amino acids and pharmaceuticals and has the key strategy of ensuring growth in its food products business with a stronger regional portfolio. It currently operates in 30 countries and regions, aims to become the top business in the Asian frozen foods market, by rolling out its products in North America and Europe.
The Japanese firm generated net sales of JPY 1,091.1 billion (EUR 8.24 billion) in 2016.
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www.seafood.media
Information of the company:
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Address:
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St. Géours De Maremne, St. Vincent De Tyrosse
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City:
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Maremne
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State/ZIP:
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Aquitaine (40230)
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Country:
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France
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Phone:
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+33 558 56 73 00
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Fax:
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+33 558 57 30 41
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E-Mail:
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[email protected]
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More about: 
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