Purchase, NY, (Oct. 30, 2006) -- Maypro Group ("Maypro"), a leading global supplier of nutraceutical ingredients, announced today that it received a minority investment from Marubeni America Corporation ("Marubeni"), the U.S. subsidiary of one of the five largest Japanese general trading companies with total revenues of more than US $70 billion and 124 offices worldwide.
"The participation of Marubeni in our growth initiatives represents an important development in our mission to be the leading global diversified supplier of high-quality nutraceutical ingredients," said Steve Yamada, President and CEO of Maypro. "Over the past three decades, we have significantly grown our ingredients business, developed a strong portfolio of patented, branded products and expanded our operations in the U.S., Japan and China to build a truly global platform, which we are now seeking to further expand with Marubeni’s support."
"In Maypro, we were attracted by its position in the nutraceutical industry and the superior management team assembled in major markets around the world," said Tsutomu Yamamoto, the Executive Vice- President and COO of Marubeni America Corporation. "Consumers care more about their health in this day and age. We expect this industry to continue its steady growth. Furthermore, we intend to work with Maypro in identifying mutually beneficial opportunities."
In addition to this strategic investment, Marubeni and Maypro intend to explore opportunities for joint projects in the nutraceutical and food industries where synergies between the two companies exist. The two companies seek to capitalize on the rapid growth of the $200 billion global health nutrition industry supported by favorable demographic trends, including an aging population (particularly in the U.S., Japan and Europe) and growing consumer spending on "wellness" products worldwide.
About Maypro Group
Founded in 1977, Maypro Group is a privately-held global supplier of nutraceutical ingredients to the nutritional supplement, sports nutrition, pet & veterinary, cosmetic, functional food and fine chemical industries. Headquartered in Purchase, NY, and with offices in Los Angeles, Tokyo and Shanghai, Maypro represents some of the world's largest nutraceutical ingredient manufacturers and supplies high-quality ingredients in the U.S., Japan, Europe, Latin America and throughout Asia. Over the past 29 years, Maypro has established itself as an industry innovator. It was the first to introduce such leading ingredients as Coenzyme Q10, chondroitin, glucosamine, alpha- lipoic acid and AHCC medicinal mushroom in the U.S. market and launched the leading U.S. and European patented, branded ingredients in Japan.
About Marubeni America Corporation
Marubeni America Corporation (MAC), the largest overseas subsidiary of Marubeni Corporation of Japan, is a U.S. company incorporated in November of 1951 in New York. Marubeni America is headquartered in New York City and has operations in seven other U.S. locations with its 33 subsidiary and affiliated companies. In addition, the Company has access to a network of more than 120 Marubeni Group offices and
564 associated companies worldwide. As a general trading company, MAC acts as an intermediary and broker in a variety of trading activities between enterprises and countries. MAC also provides numerous specialized services, including marketing and sales support, transportation, insurance, storage, financing and leasing, direct investment, engineering and construction service, traffic and logistics planning.
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