Japan's Mitsui invests $36.4m to expand SATS food solutions in Asia
The investment will give Mitsui a 15% stake in SATS’ food solutions businesses.
SATS and Mitsui have signed a memorandum of understanding (MoU) to collaborate on developing their respective food and retail solutions businesses.
Under the MoU, Mitsui will invest about $36.4m to boost the food solutions business of SATS through its network of prominent food retailers, manufacturers, and F&B players in key Asian markets.
With this investment, Mitsui will hold a 15% stake in a partnership with interests in SATS Food Solutions India, SATS Food Solutions Thailand, SATS Tianjin, and Country Foods.
SATS TFK, a SATS unit, also works with a Mitsui Group subsidiary to supply food components to major Japanese retail channels like St. Coursair, Kinokuniya, and JR East.
By Q1 2025, the partners plan to supply frozen meals to Muji Japan.
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