Mondelēz International Inc has reached an agreement to sell its 50% interest in Ajinomoto General Foods Inc to its joint venture partner, Ajinomoto Co Inc.
AGF manufactures and sells instant, ground and liquid coffee products as well as other beverages in Japan under brands mainly licensed by Mondelēz International, including Blendy and Maxim.
In May 2014, Mondelēz International announced its intention to combine its coffee business with DE Master Blenders 1753 to create the world’s leading pure-play coffee company, to be named Jacobs Douwe Egberts (JDE). As part of this, Mondelēz International’s Japan joint-venture partner, Ajinomoto, was invited to join JDE. During these discussions, Ajinomoto expressed a strong interest in acquiring Mondelēz International’s shares in AGF.
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