Asian Food Company in US Acquired by Nichirei
"InnovAsian Cuisine is a company dedicated to great food with quality ingredients," the company says…
"InnovAsian Cuisine is a company dedicated to great food with quality ingredients," the company says at its website. "We offer a line of premium heat & serve entrées, appetizers and side dishes that are fully cooked, frozen and easily prepared in minutes. Our convenient meals and signature sauces are flash frozen separately to lock in freshness. Our line is sure to please even the most discriminating shopper."
"We will aim at business expansion centered on Asian foods in the United States market by exercising the overall capabilities of Nichirei Foods as Japan's largest frozen food company while optimizing the excellent business abilities of the management and staff of InnovAsian Cuisine Enterprises LLC," said a statement by the Nichirei board. "The US has a vast frozen foods market. Specifically the Asian foods category, which has shown remarkable growth in the US mainstream market, is considered to be a promising market for Nichirei Foods."
InnovAsian Cuisine Enterprises was founded in 1999, and reported sales of $42.4 million last year. Nichirei is paying $11 million a majority interest, and the deal is expected to close June 30.
"We will aim at business expansion centered on Asian foods in the United States market by exercising the overall capabilities of Nichirei Foods as Japan's largest frozen food company while optimizing the excellent business abilities of the management and staff of InnovAsian Cuisine Enterprises LLC," said a statement by the Nichirei board. "The US has a vast frozen foods market. Specifically the Asian foods category, which has shown remarkable growth in the US mainstream market, is considered to be a promising market for Nichirei Foods."
InnovAsian Cuisine Enterprises was founded in 1999, and reported sales of $42.4 million last year. Nichirei is paying $11 million a majority interest, and the deal is expected to close June 30.
