Mitsui & Co., Ltd. (TSE:8031) made an offer to acquire more than 87% stake in Goyo Foods Industry Co., Ltd. for ¥1.4 billion on October 15, 2021. Mitsui & Co., Ltd. will acquire 1.572385 million shares at ¥879 per share. Keisuke Masuda, the former representative director of Goyo Foods Industry and the company's second-largest shareholder, will retain his 12.96% stake in the business.

Tender offer period will be from October 18, 2021 to December 2, 2021. Settlement will be on December 9, 2021. The deal is subject to minimum tender of 0.97 million shares and if shares tendered is less than this, then Mitsui will not purchase any tendered shares.

Iwaida Partners acted as legal advisor and Tokyo financial advisers acted as financial advisors to Goyo Foods. KPMG FAS Co. Ltd. acted as fairness opinion provider to Mitsui.