Japanese food group Morinaga & Co has recently announced its acquisition of My/Mochi Ice Cream, marking a significant expansion into the US frozen-dessert market. This strategic move, communicated in a statement on March 9, highlights Morinaga’s commitment to growth in the United States, which the company identifies as a key priority.
Morinaga is investing over $130 million in a new production facility in Mebane, North Carolina, scheduled to open in 2027. This plant aims to enhance production of its popular Hi-Chew candy brand, further solidifying Morinaga’s position in the evolving food and beverage industry.
The transaction involves Morinaga purchasing all shares of MyMo Holdco, which owns all interests in My/Mochi, for $130 million. Notably, US private-equity firm Lakeview Capital acquired My/Mochi from Century Park Capital Partners in 2020.
Teruhiro Kawabe, president and CEO of Morinaga America, emphasized the potential of this acquisition, stating, “In welcoming My/Mochi to the Morinaga family, we see a tremendous opportunity to build a sustainable snacking business positioned for future growth.”
My/Mochi, inspired by traditional Japanese confectionery, made its debut in Los Angeles in 1993. The brand’s product offerings include non-dairy frozen novelties and a variety of mochi sorbets, available in over 20 flavors. For its fiscal year ending June, My/Mochi reported $60 million in net sales and an adjusted EBITDA of $10 million.
According to Morinaga, this partnership aims to “accelerate innovation and unlock new growth opportunities” in the rapidly growing frozen snack category. This deal also aligns with Morinaga’s 2030 business strategy, which seeks to position the company as a “wellness company” by tapping into high-growth segments, especially in the US market.
My/Mochi will maintain its headquarters in Los Angeles, under the continued leadership of president and CEO Craig Berger. Berger noted that this collaboration will enable the brand to connect with a “broader group of consumers.”
He added, “We are thrilled to partner with Morinaga & Co., Ltd., a globally reputable company, whose scale and research and development capabilities will enhance our ability to innovate and grow.”
This integration is expected to generate new synergies in product development, marketing, and distribution within the American market. Through Morinaga America, the company already distributes several confectionery brands, including Hi-Chew, Hi-Soft, and Chargel in the US.
In Japan, Morinaga operates various food business subsidiaries, such as Morinaga Angel Dessert Co., a leader in frozen desserts, and Takasaki Morinaga Co., which produces Hi-Chew for the domestic market alongside other sweet products. The company also markets its In Jelly products across Japan, Taiwan, Hong Kong, and Singapore, in addition to Chargel energy gels in the US.
Overall, this acquisition positions Morinaga to leverage emerging food and drink consumer trends, paving the way for a more diversified portfolio in the competitive food and drink business landscape.
