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Farmind signed MoU on acquisition of stakes of JWM Asia Japan

Farmind Corporation, a fruit and vegetables marketer with a nationwide cold chain, concluded Memorandum of Understanding on October 29, 2019, with JWM Asia Holdings Limited to integrate the operations of JWM Asia Japan Co., Ltd., a company that imports and sells fruits and vegetables, by acquiring 100% of its shares.

JWM Asia Japan delivers a wide range of products and services, from its main products such as grapefruit to value-added products (pre-packs), to wholesalers, retailers, and others around the country. Annual sales totaled approximately ¥6.0 billion (2018 results).

Farmind has a cold chain covering the whole of Japan with 14 centers dedicated to handling fresh produce nationwide, IT systems developed exclusively for fresh produce, and a wide range of specialized functions covering all areas of fruit and vegetables distribution, including procurement, manufacturing and processing, marketing, logistics and sales. Farmind also offers a wide variety of products, ranging from imported fruit and vegetables, including bananas, avocados, and pineapples, to a large number of domestically produced fruit and vegetables.

Farmind Group will achieve an expansion of product lineup of imported fruit and vegetables products by adding JWM Asia Japan’s Citrus and other products to the Group's products. They will strengthen their stable supply bases by diversifying the import sourcing in preparation for the recent frequent weather changes.

In addition, by mutually complementing their customer bases in Japanese markets, they will further expand their two businesses. At the same time, they will integrate JWM Asia Japan's distribution center into Farmind's cold-chain network to optimize logistics, aiming to realize more efficient business operations by integrating various functions.

Based on their corporate philosophy of "Bringing producers and consumers together," they will continue to contribute to the development of domestic and overseas fruit and vegetables distribution from a variety of perspectives. They will continue to strengthen their supply system for fruit and vegetables both in Japan and overseas and improve quality through their cold chain network, and deliver fresh and delicious fruit and vegetables from producers to consumers.

Source: Farmind Corporation

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