The Asahi Shimbun Newspaper reported that Japan’s largest tea company, beverage manufacturer Ito En, is acquiring coffee manufacturer Distant Lands Trading for 10 billion yen. The purpose of the acquisition seems to be to take advantage of an extensive distribution network in North America for Ito En’s tea business.
We couldn’t find need about it in English yet, but did come across details of the acquisition in a financial briefing.
read the full briefing here
For the ITO EN group, the acquisition will enable it to reinforce the sales in North America benefiting from DLTC’s sales networks and relationships with its customers, and to offer products with wide selection of drinking format besides the RTD beverages in plastic bottles in the tea category, taking advantage of its procurement, technological development, and production power.
ITO EN strongly believes that this acquisition will enable us to continue to grow the overseas business primarily in North America towards our vision of becoming “a global tea company” which contributes to better lifestyles of customers through our tea products.