Finance / Japan
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Massive Meiji Merger
September 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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On September 11, Meiji Dairies that it will take over confectionery producer Meiji Seika in a US$1.8bn stock swap that will create one of the biggest companies in the sector. This represents the latest the latest instance of consolidation in the Japanese food industry, where companies have sought refuge from the high price of raw materials and the limits of the domestic market through economies of scale. According to Thomson Reuters data, the value of M&A deals in Japan's food and drink industry tripled to US$4.1bn in 2006 before rising by another US$5.4bn in 2007.