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Kagome Co., Ltd. Finalize Majority Acquisition of Ingomar Packing Company LLC.

Press Release

Dear Valued Customer,

We are excited to share some significant news regarding Kagome Co., Ltd. (“Kagome”) and our recent business development. As a valued customer, we believe it’s essential to keep you informed about our company’s growth and developments as we move forward with our ongoing partnership.

We are pleased to announce that Kagome Japan has successfully increased its position to a majority stake from 20% to 70% in Ingomar Packing Company, LLC (“Ingomar”), a significant player in the tomato primary processing industry. This strategic move represents a significant milestone for Kagome and underscores our commitment to enhancing our products and services to better serve our customers.

Ingomar engages in primary tomato processing, producing, and selling tomato paste and diced tomatoes. Regarding production capacity of primary-processed tomatoes, Ingomar is ranked 2nd in the US and 4th in the world.

The following are the objectives of this acquisition:

  1. To further grow the US business by strengthening the value chain for the US tomato processing business.
  2. To accelerate the overall growth of international business by strengthening the global network of the tomato processing business.
  3. To build a competitive and sustainable tomato processing business by strengthening initiatives in the agricultural area.

With this deal, annual global production capacity for paste processing will increase to 2.23 million tons (up 1.55 million tons).

Kagome to become 3rd largest raw tomato processing company in the world.

As a result, following the conversion of Ingomar into a majority owned subsidiary, Kagome’s annual raw tomato processing capacity will be ranked 3rd in the world; as compared to 14th before the acquisition.

We assure you that our commitment to excellence and customer satisfaction remains unchanged. If anything, this acquisition reinforces our dedication to providing you with the highest quality products and services tailored to meet your needs.

Most importantly, we will strive to minimize any disruptions and ensure a smooth transition. We do not expect any significant disruptions in the near term. Our goal is to leverage the strengths of Ingomar to drive innovation, supply guarantee, and growth for the mutual benefit of all stakeholders.

We value your partnership and look forward to continuing to serve you. If you have any questions or would like further information about this acquisition, please don’t hesitate to contact us. Your feedback is always appreciated and welcomed.

Thank you for your continued support.

For additional information, please read the full press release.