Japanese conglomerate Marubeni has successfully acquired Bubbies Homemade Ice Cream & Desserts (Bubbies), marking a strategic entry into the US ice cream manufacturing sector.
The financial terms of this transaction for the mochi ice cream maker remain undisclosed.
Headquartered in Arizona, Bubbies began as a Hawaiian ice cream shop in 1985 and transitioned to commercial ice cream production on the US mainland in 2018.
In 2017, the company was acquired by Kenex Holdings, with founder Keith Robbins taking on a role as a “significant investor”.
Now, Bubbies will operate as a wholly owned subsidiary of Marubeni.
In a statement issued on June 30, Marubeni declared that this acquisition will “result in the delivery of high value-added food products to the growing US food market.” The Tokyo-based group aims to “further expand its food business” in the US by leveraging these efforts.
Remarkably, Marubeni recognizes the US food market as “one of the largest in the world” and anticipates steady growth into the future.
Additonally, Marubeni predicts that the novelty ice cream segment, especially products like Bubbies’ mochi-wrapped ice cream, will experience “significantly” faster growth than the overall food market.
Bubbies is proactively expanding its sales network through major US supermarket chains. Its products resonate with consumer trends favoring “natural” and “healthy” options, according to the statement.
For the financial year ending March 31, 2025, Marubeni reported a net profit of Y503bn ($3.49bn), with its food and agriculture business contributing Y68.9bn. The company projects a 16.1% growth to Y85bn for this division in the current financial year.
Overall revenue for Marubeni in fiscal 2025 reached Y7.79tn, reflecting a 7% increase compared to the previous year.
Marubeni has emphasized its commitment to “leverage the knowledge and expertise gained from its food manufacturing and distribution businesses in Japan and the ASEAN region” to scale up Bubbies’ operations and enhance profitability.
The company’s US operations encompass a diverse range of food products and ingredients, including grains, pulses, vegetable oils, coffee, meat, and seafood. Notable subsidiaries include Eastern Fish Company, Creekstone Farms Premium Beef, and Columbia Grain International.
