📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to up to USD18 million (JBIC portion) with House Foods Holding USA Inc. (HFUSA), a U.S. subsidiary of House Foods Group Inc. (House Foods Group). The loan is co-financed with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, and MUFG Bank, Ltd., bringing the total co-financing amount to USD30 million*1.
The loan is intended to finance part of the funds necessary for House Foods Group, through its U.S. subsidiary HFUSA, for the acquisition of the U.S. company Keystone Natural Holdings, LLC (KNH).
KNH manufactures and sells plant-based food (PBF), including tofu and meat substitutes, mainly in the United States. In recent years, the demand for PBF has been increasing in the U.S. market due to growing health consciousness and concerns for environmental protection. House Foods Group has been in the tofu business in the country since 1983. It positions the establishment of the recycling-oriented model as one of the key themes of its CSR policy and is working to create a sustainable food value chain. Through this M&A, House Foods Group aims to grow further in the U.S. market by acquiring KNH’s product development capabilities and PBF product portfolio.
This loan supports the overseas business deployment of House Foods Group, a Japanese company, by providing necessary funds for M&As and thereby supports the overseas expansion of existing business, as well as new business deployment, and contributes toward maintaining and strengthening the international competitiveness of Japanese industries. Additionally, the PBF business can promote healthy eating and preventive healthcare in Western nations while also having the potential to solve the protein shortage issue caused by population growth globally. Therefore, it is expected to contribute toward solving global environmental and food issues.
As Japan’s policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies, including their overseas M&A activities, in collaboration with private financial institutions.The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a loan agreement amounting to up to USD18 million (JBIC portion) with House Foods Holding USA Inc. (HFUSA), a U.S. subsidiary of House Foods Group Inc. (House Foods Group). The loan is co-financed with Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, and MUFG Bank, Ltd., bringing the total co-financing amount to USD30 million*1.
The loan is intended to finance part of the funds necessary for House Foods Group, through its U.S. subsidiary HFUSA, for the acquisition of the U.S. company Keystone Natural Holdings, LLC (KNH).
KNH manufactures and sells plant-based food (PBF), including tofu and meat substitutes, mainly in the United States. In recent years, the demand for PBF has been increasing in t
