$130 Million Deal Ushers in New Era (Image Credits: Pexels)
Japanese food group Morinaga & Co completed a significant deal to acquire My/Mochi Ice Cream, establishing a strong foothold in the American frozen dessert industry.[1]
$130 Million Deal Ushers in New Era
Morinaga & Co agreed to purchase all shares of MyMo Holdco, the entity that controls My/Mochi, for $130 million. The company released a statement about the transaction on March 9.[1]
This move represents Morinaga’s full-scale entry into the US frozen dessert market. The acquisition aligns with broader efforts to expand in a region the company views as a priority for growth. Morinaga already invests heavily in American operations, including a new production facility in Mebane, North Carolina, slated for 2027 to ramp up Hi-Chew candy output.[1]
Morinaga Builds on Confectionery Success
Morinaga America handles distribution of popular brands like Hi-Chew, Hi-Soft, and Chargel across the United States. In Japan, subsidiaries such as Morinaga Angel Dessert Co focus on frozen desserts, while Takasaki Morinaga Co produces Hi-Chew alongside biscuits, sweets, and chocolates.[1]
The company also markets In Jelly products in Japan, Taiwan, Hong Kong, and Singapore, and offers Chargel energy gels domestically in the US. This diverse portfolio positions Morinaga to leverage existing expertise in the acquisition. The deal supports the firm’s 2030 strategy to evolve into a wellness-oriented business by targeting high-growth areas like frozen snacks.[1]
My/Mochi’s Roots and Recent Performance
My/Mochi draws from Japanese confectionery traditions and launched in Los Angeles in 1993. The brand offers non-dairy frozen novelties and mochi sorbets in more than 20 flavors. For the fiscal year ending in June, it recorded net sales of $60 million and adjusted EBITDA of $10 million.[1]
Private equity firm Lakeview Capital acquired My/Mochi from Century Park Capital Partners in 2020. The company will maintain its headquarters in Los Angeles under president and CEO Craig Berger. This continuity ensures stability during the transition.[1]
| Company | Recent Financials |
|---|---|
| My/Mochi (FY ending June) | $60m net sales, $10m adj. EBITDA |
| Deal Value | $130m |
Synergies Drive Innovation and Expansion
Morinaga expects the partnership to spur innovation and open new growth paths in the rapidly expanding frozen snack segment. New opportunities will emerge in product development, marketing, and distribution within the US market.[1]
Teruhiro Kawabe, president and CEO of Morinaga America, stated: “In welcoming My/Mochi to the Morinaga family, we see a tremendous opportunity to build a sustainable snacking business positioned for future growth.”[1]
Craig Berger, My/Mochi’s president and CEO, 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.” He noted the deal would help reach a broader consumer base.[1]
- Deal value: $130 million for full ownership.
- My/Mochi’s FY sales: $60 million with strong profitability.
- Strategic fit: Accelerates Morinaga’s US wellness transformation.
This acquisition positions Morinaga to capitalize on the frozen dessert trend while blending Japanese heritage with American tastes. The combined strengths promise fresh offerings for consumers. What do you think of mochi ice cream’s rising popularity? Tell us in the comments.[1]
