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href="https://web.archive.org/web/20160505055046/mailto:/?subject=Mitsui%20buying%20condiment%20ops%20from%20Cargill&body=Here%20is%20something%20from%20Nikkei%20Asian%20Review%20that%20might%20interest%20you%3A%0D%0AMitsui%20buying%20condiment%20ops%20from%20Cargill%0D%0Ahttp://s.nikkei.com/1Uwcj4A">Mail</a></li> </ul> </div> <div class="article-box"> <div class="detail"> <div class="feature-article"> <div class="date-area">May 4, 2016 2:00 am JST</div> <h1 class="title">Mitsui buying condiment ops from Cargill</h1> </div> </div> </div> <div class="article-box detail"> <div class="wysiwyg_area"> <div class="articleBodyText"> <p>TOKYO -- <a href="/web/20160505055046/http://asia.nikkei.com/Company/000Q3S-E" target="_self" alt="000Q3S-E" class="mwMoTrg">Mitsui & Co.</a> will acquire the condiment business of American food giant Cargill, aiming to further diversify beyond resource operations where low prices are eroding profits.</p><p>The Japanese trading house will spend about 10 billion yen ($94.3 million) on the deal, including equipment transfers, via California joint venture Ventura Foods.</p><div class="page_limit free"></div><div class="page_limit"></div><p>Mitsui holds a 45% stake in Ventura, which will acquire Cargill facilities making dressings, sauces and mayonnaise. It will take over a plant in the state of Florida and move equipment from two plants in other states to its own existing facilities elsewhere within a year and a half.</p><p>Ventura will take over such large accounts as McDonald's, so its sales volume will increase some 10% to around 1.8 million tons a year through the deal.</p><p>Strong in such oil-based condiments as margarine and cooking oil, Ventura supplies restaurant chains, food wholesalers, and retailers selling private-label goods. The company generates the rough equivalent of 300 billion yen in annual sales, which have been growing about 5% a year with help from in-house recipes proposed to customers.</p><p>Ventura has been working to beef up operations in highly processed condiments. It bought three ketchup and sauce plants in Canada for around 10 billion yen this past February.</p><p>The joint venture turns an annual net profit of around 10 billion yen and contributes significantly to profits in Mitsui's food businesses.</p><p>(Nikkei)</p> </div> </div> <div id="modal-screen_zoom"></div> </div> <div id="000Q3S-E" class="cmp-smy-balloon"> <div class="cmp-smy-balloon-inr"> <h3 class="mwmo-title"><a href="/web/20160505055046/http://asia.nikkei.com/Company/000Q3S-E">Mitsui & Co., Ltd.</a></h3> <p class="a300ctry">Japan</p> <table> <tr> <th>Market(Ticker):</th> <td>TKS(8031)</td> </tr> <tr> <th>Sector:<br>Industry:</th> <td>Distribution Services<br>Wholesale Distributors</td> </tr> <tr> <th>Market cap(USD):</th> <td>22,173.98M</td> </tr> <tr> <th>Shares:</th> <td>1,796.51M</td> </tr> </table> <div class="more"> <a href="/web/20160505055046/http://asia.nikkei.com/Company/000Q3S-E">about Mitsui & Co., Ltd.</a> </div> </div> </div>  <div class="pagination 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