Japanese trading house Mitsui & Co. is teaming up with Singaporean airport services provider SATS to produce and wholesale frozen food in Asia.
Mitsui will invest about 4 billion yen ($25.5 million) for a 15% stake in Food Solutions Sapphire Holdings, a SATS subsidiary that operates in India, Thailand, China and Singapore. The deal is scheduled to be completed by September.
SATS supplies in-flight meals to Singapore Airlines and others, producing around 120,000 meals per day. The company’s strengths include its high food-safety standards and manufacturing efficiency. It also has the know-how to accommodate various food cultures, including halal food compliant with Islamic law.
