Baker McKenzie, led by Bangkok-based M&A partners – Peerapan Tungsuwan and Panyavith Preechabhan – advised Japan-based Mitsui Co., Ltd. (“Mitsui”) on its strategic joint venture with Singapore-based airline service provider SATS in the food manufacturing and distribution business for approximately JPY 4 billion. When completed, Mitsui will hold a 15% stake in a joint venture company with interests in SATS subsidiaries engaged in food manufacturing and distribution in India, Thailand, China and Singapore.

The deal will create a joint venture to manufacture and distribute food products in Asia and beyond. Mitsui’s participation will accelerate the growth and expansion of SATS’ food solutions business through targeted demand generation. Through this project, Mitsui will establish a strong presence in Asia markets for value-added food products, with a particular focus on India and China, by leveraging its expertise in global procurement of food ingredients and packaging materials, cold chain logistics, distribution and marketing.

Peerapan Tungsuwan commented: “We are very privileged to have been able to support our long-standing client, Mitsui Co., Ltd., on this strategic joint venture. Our involvement exemplifies the cross-border strength of Baker McKenzie in leveraging our unique position, drawing upon our global network of 70+ offices to deliver successful and timely outcomes for our clients.”

Panyavith Preechabhan added: “We are pleased to be able to help Mitsui achieve its strategic objective of strengthening its presence in Asia markets and expanding its footprint in value-added manufacturing, particularly in the food and nutrition sectors, where we see exciting prospects fuelled by consumers’ rising interest in health and wellbeing. We are excited to be part of the transaction and are proud of our team for delivering seamless results across multiple jurisdictions.”