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FOOD & BEVERAGES | Ingredients, flavoring & condiments
amoy.com

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Acq - Fin | Alive

About Amoy Food

Amoy Food is a Hong Kong-based manufacturer of cooking sauces owned by Japanese food and beverage maker Ajinomoto.

Amoy Food Headquarter Location

11-15 Dai Fu Street Tai Po Industrial Estate

Tai Po New Town,

Hong Kong

+852 2665 6633

Latest Amoy Food News

CITIC Capital buys cooking sauce maker Amoy Food from Japan’s Ajinomoto

Nov 29, 2018

Soy sauce in food prep. Photo: Caroline Attwood/Unsplash November 20, 2018 Japanese food and beverage maker Ajinomoto has sold its stake in Hong Kong-based cooking sauce manufacture Amoy Food to Chinese investment firm CITIC Capital, it said in a statement on November 19. Ajinomoto has entered into an agreement to transfer 100 per cent of its wholly-owned unit Amoy Food to CITIC Capital Asia Foods, a joint venture between CITIC Capital Japan and CITIC Capital China. Based on the announcement, Ajinomoto will subscribe to 15 per cent shares of CITIC Capital Asian Foods to set up a JV. The rest of the JV will be owned by CITIC Capital China Partners III and CITIC Capital Japan Partners III. The deal is expected to complete by the first quarter of 2019, subject to regulatory approvals. Financial details were not disclosed. The Japanese seasonings giant has been seeking out a buyer for Amoy to help the Hong Kong brand grow and create new business opportunities, it said. Ajinomoto acquired Amoy from Group Danone for $235 million in January 2006. Established in 1908 and based in Hong Kong, Amoy is widely recognised for its cooking sauces and frozen foods business. It also has a presence in North America and Europe. “Through the 15 per cent stake in CITIC Capital Asian Foods, Ajinomoto will work with CITIC Captial to explore new business opportunities in China,” said the Japanese conglomerate. Founded in 2002, CITIC Capital manages assets worth $25 billion. Its core businesses include private equity, real estate, structured investment and finance, as well as asset management. It has offices in Hong Kong, Shanghai, Beijing, Shenzhen, Guangzhou, Tokyo and New York. As of June 2018, about 45 per cent of its LPs are based in North America, 27 per cent in China and 22 per cent are from the Asia Pacific excluding China. Also read:

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