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METAL

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  1. Branston Pickle is being sold to a 200 year-old Japanese vinegar manufacturer for £92.5m, in the latest deal involving an Asian food business and a British household brand.

     

    Branston will join Sarson's and Weetabix in foreign ownership once the deal with Mizkan Group is completed. It will be the second transaction between Mizkan and Premier this year after the Japanese company bought the Sarson's, Haywards pickled onion and Dufrais vinegar brands in June - a month after a Chinese firm bought a majority stake in Weetabix.

     

    Kazuhide Matazaemon Nakano VIII, Mizkan's chief executive, indicated that Branston and Sarson's have not been bought as potential entrants into the Japanese food market. Japan's industrial base has been hit by the high price of the yen and domestic manufacturers have targeted foreign expansion in a bid to keep costs down, as well as using their strong currency to pursue takeovers abroad.

     

    "Branston Sweet Pickle is an iconic brand that has established a market leading position," said the Mizkan boss. "The Branston brand is also an excellent strategic fit with our global portfolio and adds to our solid foundation for growth in the UK."

     

    The deal includes the Branston sweet pickle, ketchup, salad cream and mayonnaise brands as well as the company's factory at Bury St Edmunds in Suffolk, which employs 365 people. Premier said it expected "all employees" to transfer to Mizkan once the deal is completed in early 2013.

     

    Kazuhide Matazaemon Nakano VIII - now there's a name!

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