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Ajinomoto to invest in South African food giant Promasidor

Ajinomoto condiments have an established presence in Thailand and other parts of Southeast Asia.

TOKYO -- Ajinomoto will purchase a 20%-plus interest in Promasidor, with the Japanese condiment maker hoping to strengthen its presence in Africa by taking advantage of the South African food company's sales channels.

The stake is seen costing an estimated 20 billion yen to 30 billion yen ($191 million to $286 million). Ajinomoto is now coordinating the deal with Promasidor shareholders.

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