International seasoning and food firm Ajinomoto has announced the acquisition of French frozen food maker Labeyrie Traiteur Surgeles (LTS) through Ajinomoto’s consolidated subsidiary Ajinomoto Foods Europe for €21 million ($24.1 million).
The acquisition, made under an agreement between Ajinomoto and LTS’s parent company Labeyrie Fine Foods, is aimed at enabling Ajinomoto to expand its business platform of frozen foods in France “by combining LTS’s production base and market reach in the home-use sales channel with the Ajinomoto Group’s specialty”.
Ajinomoto debuted last May in France, launching a line of frozen ready meals. The firm stated that, through the acquisition, it would “further strengthen its consumer foods business in Europe and accelerate growth” as part of a strategic aim to become “No. 1 in the Asian frozen foods market” in North America and Europe.