Ajinomoto Co., Inc. Completes Acquisition of
Örgen, a Major Food Company in Turkey
TOKYO, April 4, 2017 – On April 3, 2017 (local time), Ajinomoto Co., Inc. (“Ajinomoto Co.”) completed procedures for the acquisition of all shares of Örgen Gıda Sanayi ve Ticaret A.Ş. (“Örgen”) in accordance with the details announced in “Ajinomoto Co., Inc. to Acquire Örgen, a Major Food Company in Turkey, for Approx. JPY 7.4 Billion,” dated November 16, 2016.

In its FY2017-2019 Medium-Term Management Plan, Ajinomoto Co. has made it one of its key strategies to accelerate regional expansion for food business growth with a stronger regional portfolio. Positioning Turkey as its starting point for business expansion in the Middle East, Ajinomoto Co. intends to use the business foundation and brands of Örgen and KÜKRE GIDA VE İHTİYAÇ MADDELERİ NAKLİYAT VE ÖZEL EĞİTİM HİZMETLERİ TİCARET VE SANAYİ ANONİM ŞİRKETİ (“Kükre A.Ş.”), in which Ajinomoto Co. acquired a 50% stake in 2013, to strengthen its business portfolio in Turkey and accelerate business expansion in the Middle East, thus contributing to well-being in the region.

Completion of Acquisition of All Shares
On April 3, 2017 (local time), Ajinomoto Co. completed the acquisition of all shares of Örgen.

The acquisition value, including the trademark rights for Örgen’s Bizim Mutfak brand, is approximately 197 million Turkish Lira (TRY) (approximately JPY 6.1 billion).1

Overview of Örgen
(1) Company name: Örgen Gıda Sanayi ve Ticaret A.Ş.
(2) Location: Izmir, Republic of Turkey
(3) Established: 1987
(4) Representative: Toru Okazaki, Chairman
(5) Net sales: Approximately TRY 102 million (approximately JPY 3.1 billion)2
(fiscal 2015 results)
(6) Number of employees: Approximately 250 (as of March 31, 2017)
(7) Business description: Manufacture and sale of bouillon, powdered soups, menu-specific seasonings and powdered desserts

Notes:
1. Valuation (TRY 1 = JPY 31.01) after price adjustment at the time of the share acquisition. Please note that because a price adjustment will also be made after the share acquisition, the acquisition value is not fixed at present.
2. For the acquired business only. TRY 1 = JPY 30.72 (exchange rate as of March 31, 2017)

Reference
Press release dated November 16, 2016
“Ajinomoto Co., Inc. to Acquire Örgen, a Major Food Company in Turkey, for Approx. JPY 7.4 Billion”
http://www.ajinomoto.co.jp/company/en/presscenter/press/detail/g2016_11_16.html

About Ajinomoto Co.
Ajinomoto Co. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals and specialty chemicals. For many decades Ajinomoto Co. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health and global sustainability. Founded in 1909 and now operating in 28 countries and regions, Ajinomoto Co. had net sales of JPY 1,185.9 billion (USD 9.87 billion) in fiscal 2015. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.

For further information, please contact:
Ajinomoto Co., Inc. Public Communications Department; pr_info@ajinomoto.com
 
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