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Business

Ajinomoto launches rival bid for Swiss peer Wild Flavors

TOKYO -- Japan's Ajinomoto has offered to buy Wild Flavors for about 300 billion yen ($2.93 billion), joining the Western players vying to take over the Swiss producer of food colors and flavors.

     Ajinomoto has already conveyed its intention to Wild Flavors, which is expected to pick a suitor as early as this week. Should it go through, this would be the biggest acquisition by the Japanese seasonings maker.

     Established in Germany in 1931, Wild Flavors maintains a powerful presence in the market for beverage-use colors. It generated sales of roughly 120 billion yen in 2012. The founding family owns 65% of the company, with a U.S. fund holding the rest.

     Ajinomoto has local units in 26 countries and regions, marketing food seasonings and other products. It hopes to raise the food business's overseas sales by 30% to 379.3 billion yen in fiscal 2016, up 30% from last fiscal year.

     With consumer tastes and distribution systems varying from market to market, expanding abroad alone is difficult. Ajinomoto seeks to achieve synergies rapidly through the acquisition.

(Nikkei)

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