One of L.A.’s oldest and most prominent importers of Japanese foods and restaurant supplies is being acquired by a $1.3 billion Japanese company, according to Bloomberg.
Takara Holdings Inc., based in Kyoto, Japan, said it would pay $8.16 million for an additional 10.3 percent stake in downtown’s Mutual Trading Co. Inc. Takara already owns a 40.7 percent stake in Mutual Trading.
The deal was expected to close Nov. 14, but as of Nov. 18 nothing new had been announced.
Founded in 1926, Mutual Trading Co. has branches and affiliates across the U.S., in Japan, and in Peru. The company sells about 5,000 items, including sake, noodles, and towel warmers. It began as a co-op serving early Japanese immigrants in Southern California, according to its website.
Takara Holdings owns three businesses focused on alcoholic beverages and seasonings, biomedics, and health foods. Its relationship with Mutual Trading Co. Inc. is part of its goal to expand and increase business in the company’s global wholesale food network, the company said.
No one was immediately available for comment at Mutual Trading Co. Inc.
Retail and hospitality reporter Caroline Anderson can be reached at email@example.com. Follow her on Twitter @Caroline_Mander.