Olam, Mitsubishi form new JV in Japan

Olam will have a 30% stake.

Mitsubishi Corporation (MC) and Singapore-listed Olam International have formed a joint venture company in Japan.

Known as MC Agri Alliance Ltd (MCAA), the JV company will import and distribute coffee, cocoa, sesame, edible nuts, spices, vegetable ingredients and tomato products in the Japanese market.

MC will hold 70% of the joint venture while Olam will have a 30% stake.

The joint venture will leverage on Olam’s global supply chain networks and MC’s extensive distribution and sales network in Japan.

“The establishment of MCAA enables MC and Olam to expand their network for responsibly sourced raw materials and improves their system of distributing agricultural and food products in Japan and around the world,” the two companies said in a release.

MCAA is targeting to commence operations by October 1, 2016.

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