25 April 2008 - Japanese trading house Itochu Corporation and Ito En Ltd., a manufacturer of beverages and tea drinks, have announced that they have established a joint venture to “plan and implement marketing and sales strategies related to the import and sales” of mineral waters.
The new joint venture, capitalised at 300 million yen, will be called ITO EN ITOCHU Mineral Waters Co. Ito En will have a 65% share and the remaining 35% will belong to Itochu.
The announcement comes a month after Ito En and Groupe Danone concluded a basic agreement for the exclusive marketing rights to Evian Natural Mineral Water, following the termination of lactic drink maker Calpis’ exclusive Evian marketing contract with the French food giant.