Tag Archives: Tamasek

Ajinomoto buys stake in Promasidor for $532 million

Japanese food and ingredient manufacturer, Ajinomoto has agreed to buy a 33% stake in Promasidor at a cost of $532m (approx. ¥55.8bn yen).

The stake gives Ajinomoto access to Promasidor’s distribution network in 36 African countries. The deal values Promasidor at about $1.6bn.

Ajinomoto seeks to attract Africa’s growing middle class consumers to its products. The company sees rising demand for low-priced foods and daily essentials on the continent.

Japan’s Ajinomoto, PepsiCo bid for stake in Promasidor

Japanese firm Ajinomoto and PepsiCo are among companies vying for a stake in African dairy and drinks company Promasidor.

The deal which could put a price of $1bn on Promasidor will give the buyer access to the firm’s distribution network across Africa.