TOKYO, November 6, 2017 – On November 2, 2017 (local time), Ajinomoto Co., Inc. (“Ajinomoto Co.”) completed procedures for the acquisition of all shares of LABEYRIE TRAITEUR SURGELÉS S.A.S. (“LTS”) through its consolidated subsidiary AJINOMOTO FOODS EUROPE S.A.S. (”AFE”) in accordance with the details announced on July 20, 2017.
This acquisition will further strengthen Ajinomoto Co.’s consumer food business in Europe and accelerate its growth.
The acquisition price is EUR 27 million (approximately JPY 3.6 billion),* which is based on an enterprise value of EUR 21 million (approximately JPY 2.8 billion) for LTS and takes into account factors including the receivables held for LTS by LABEYRIE FINE FOODS S.A.S., its parent company.
Along with the acquisition of all shares, the company name of LABEYRIE TRAITEUR SURGELÉS S.A.S. has been changed to LTS S.A.S. as of November 2.
The impact of the acquisition on Ajinomoto Co.’s business results for fiscal 2017 will be immaterial.
Overview of LTS S.A.S.
Press release dated July 20, 2017
“Ajinomoto Co., Inc. Strengthens Its Business Platform for Consumer Foods in Europe”
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 30 countries and regions, Ajinomoto Co. had net sales of JPY 1,091.1 billion (USD 10.07 billion) in fiscal 2016. For more about Ajinomoto Co. (TYO: 2802), visit www.ajinomoto.com.
For further information, please contact:
Ajinomoto Co., Inc. Public Communications Department; email@example.com