CITIC Capital Japan Partners III, L.P. and Citic Capital China Partners III, L.P. managed by CITIC Capital Partners completed the acquisition of Amoy Food Limited from Ajinomoto Co., Inc. and AJINOMOTO FROZEN FOODS Co., Inc.
February 14, 2019
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CITIC Capital Japan Partners III, L.P. and Citic Capital China Partners III, L.P., funds managed by CITIC Capital Partners entered into an agreement to acquire Amoy Food Limited from Ajinomoto Co., Inc. (TSE:2802) and Ajinomoto Frozen Foods Co., Inc. on November 19, 2018. The transaction is subject to approval by the authorities of China related to its antitrust law and other related procedures. The transaction is expected to close in the first quarter of 2019. The transaction will have no impact on the business results for the fiscal year ended March 31, 2019 of Ajinomoto Co., Inc. Hiroya Yamazaki, Takashi Shibusawa, Kenji Shimada, Alexandra Bidlake, Marcus Pollard, Emma Pugh, Samantha Cornelius, Steven Pettigrove, Johanna Leung, Alexander Lee, Joshua Li, Renee Lee, Tommy Chew, Emily Craske, Georgie Kon, Sam Freiberger, Andrew Mullan, Benja Arnott, Kimberley Chikitch, Jessy Chen, Lionel Vuidard, Damien Baud, Benoit Allouis, Guillaume Nivault, Richard Gu, Alex Roberts, Jazzy Zhou, Sharon Saren, Xi Liao, Dante Jiang and Joel Cheang of Linklaters acted as legal advisor to Ajinomoto Co., Inc. Qiuning Sun of Latham & Watkins acted as legal advisor to CITIC Capital Partners Limited.
CITIC Capital Japan Partners III, L.P. and Citic Capital China Partners III, L.P. managed by CITIC Capital Partners completed the acquisition of Amoy Food Limited from Ajinomoto Co., Inc. (TSE:2802) and AJINOMOTO FROZEN FOODS Co., Inc. on February 15, 2019. JunHe LLP acted as a legal advisor to CITIC Capital Partners.
Ajinomoto Co., Inc. specializes in the production and marketing of food and pharmaceutical products. Net sales break down by activity as follows:
- sale of food products (57%): seasonings (brands AJI-No-Moto and Hon-Dashi), mayonnaise (Pure Select), instant noodles, beverages, etc.;
- sale of frozen products (19.7%);
- other (23.3%).
CITIC Capital Japan Partners III, L.P. and Citic Capital China Partners III, L.P. managed by CITIC Capital Partners completed the acquisition of Amoy Food Limited from Ajinomoto Co., Inc. and AJINOMOTO FROZEN FOODS Co., Inc.
AJINOMOTO CO., INC. 
