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Mitsubishi Corp, Olam form joint venture to import and distribute food products in Japan
MITSUBISHI Corporation and Olam International on Friday announced their new joint venture in Japan, named MC Agri Alliance (MCAA). Mitsubishi Corp will hold 70 per cent of MCAA, while Olam will hold 30 per cent.
The joint venture will import and distribute coffee, cocoa, sesame, edible nuts, spices, vegetable ingredients and tomato products in the Japanese market.
MCAA is targeting to commence operations by Oct 1, 2016.
"The joint venture will draw on the combined strengths of both companies: Olam, for its global supply chain networks (agricultural production, origination, processing and trading) for sustainable agricultural products and food ingredients, and Mitsubishi Corp, for its extensive distribution and sales network in Japan," said the companies in a joint release.