Japan's Ajinomoto Co Inc said on Wednesday it would purchase unlisted U.S. frozen foods maker Windsor Quality Holdings for around $800 million as it seeks to expand in North America to offset slowing growth at home.The deal is Ajinomoto's most expensive acquisition to date, Thomson Reuters data shows. Like other Japanese firms, Ajinomoto is looking abroad as the domestic market shrinks due to an ageing population and a slowing economy.Texas-based Windsor makes ethnic food brands such as Ling Ling and Jose Ole, and sells its products to 80,000 retailers and 120,000 restaurants in the United States.The purchase is expected to be completed early November and Ajinomoto will finance the deal with cash and loans, a spokeswoman said.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.32% or $0.12/share to $37.99. In the past year, the shares have traded as low as $33.21 and as high as $38.73. On average, 682720 shares of TRI exchange hands on a given day and today's volume is recorded at 740439.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.34% or $0.14/share to $41.68. In the past year, the shares have traded as low as $34.98 and as high as $42.10. On average, 558722 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 702647.
Source
