JAPAN - Japan’s largest tea company Ito En is acquiring U.S. specialty coffee company.
Distant Lands Trading Company (DLTC) for $84.78 million (¥10 billion). Ito En says that the acquisition will help the company to continue its growth in overseas markets, especially in North America and to achieve their vision of becoming “a global tea company.” DLTC owns coffee farms and processing mills, sells roasted and green coffee to foodservice and retail customers, and recently launched a single-serve business which is expected to grow. Ito En, which produces a line of bottled coffee, says that DLTC’s sales and distribution networks, its relationships with customers, and its procurement, technological development and production power will help Ito En to reinforce sales and enable the company to offer a wider selection of beverage formats besides plastic bottles of RTD tea. The Dec. 25 transaction will be completed in February 2015.
Learn more: www.itoen.co.jp