Chaucer sold to Japanese food firm in €122m deal

By Louis Gore-Langton

- Last updated on GMT

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©iStock

Related tags: Japan

British food firm Chaucer has been sold to Japanese manufacturer Nagatanien in a £102.8m (€122.8m) deal which the freeze-dried food manufacturer says will help it expand into the US and Asia.

Chaucer, founded in Kent, the UK 36 years ago, produces freeze-dried ingredients, particularly fruit, which it supplies to companies such as Kellogg, Nestlé, Unilever and Starbucks.

The deal with Nagatanien, which produces Asian foods like sushi seasoning, noodles and fried-rice, has been in the works for three months. Nagatanien operates with 15 other affiliate companies, distributes through the Mitsubishi corporation and reports​ a multi-billion euro annual profit.

Chaucer’s new Tokyo-based owner is also focussed on the health and wellness market, something Chaucer CEO Andy Ducker said was part of a shared “corporate philosophy”​.

He said: “Japan is a notably difficult market to penetrate so this provides us with a platform for entering that market, broadening our customer base and expanding our global footprint.”

Not the end

Ducker said this definitely would not spell the end of the Chaucer brand. “All manufacturing facilities will remain open in their current locations in the UK, France, China and US, and there will not be any job losses.”

“This partnership provides Chaucer with the opportunity to cross sell Nagatanien products into our customer base and vice versa. We are open to exploring new ingredients and the diversification and innovation of existing product lines.”

Related topics: Manufacturers

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