Maypro Group Receives Strategic Investment from Itochu Corporation, one of Japan’s 5 Largest Companies
PURCHASE, N.Y., Oct. 25, 2024 /PRNewswire/ — Maypro Group has announced its partnership with Japan-based ITOCHU Corporation, one of Japan’s 5 largest companies by revenue with annual sales of over US$95 billion, offices in over 60 countries, and more than 200 operating companies worldwide (Source: CompaniesMarketCap). As part of their strategic partnership, ITOCHU acquired a 25% stake in Maypro.
Founded in 1977 by current Chairman and NBJ Lifetime Achievement Award honoree Steve “Susumu” Yamada, Maypro Group comprises 5 nutrition-focused companies in the United States, Japan, and China. Vertically integrated across nutritional ingredients and branded finished products via its Maypro Industries and Quality of Life Labs subsidiaries, Maypro focuses on bringing the most innovative clinically validated ingredients from one geographic market to another and making them available to consumers in partnership with its B2B customers and via its B2C consumer brands. Maypro works with some of the world’s leading manufacturers of nutritional ingredients in Japan, U.S.A., Canada, Spain, Italy, Belgium, Taiwan, New Zealand and other countries. Maypro also holds technology licenses for the production of innovative ingredients such as the MicroActive® line of products, which it manufactures in the U.S. and India.
“With ITOCHU’s support, we plan to expand our product offerings, pursue new geographic market opportunities, and develop new investment projects.” said May Yamada-Lifton, CEO of Maypro Group. “We are confident that this collaboration will fuel our growth trajectory and drive long-term value for our stakeholders.“
“By leveraging Maypro’s commitment to innovative, high quality natural products, ITOCHU looks to unlock new avenues for corporate expansion” stated Toshiyuki Fukai, General Manager at ITOCHU Corporation. “With the ITOCHU Corporation’s global network, we will be able to offer market knowledge and resources to expand Maypro’s customer base. Our mutual experience in vertical integration should also support greater product and service offerings worldwide.”
The new partnership between Maypro and ITOCHU reflects the two companies’ mutual commitment to health, innovation and responsiveness to evolving global consumer needs. The two companies first geographic area of focus will be the United States which leads the global health food market with expected annual sales of $67.43 billion in 2024, representing 37% of global demand (Source: Nutrition Business Journal). Maypro and ITOCHU will also seek to create new opportunities in Japan which has a growing aging population and a growing number of health-conscious consumers. Finally, the partners will seek to expand in the high-growth and emerging markets including China, Southeast Asia and South America.
The two companies are also well positioned to leverage their vertical integration. While Maypro will contribute its portfolio of ingredients and finished products, ITOCHU is able to utilize its broad global distribution network and its retail strength in Asia, including its ownership of Family Mart – one of Japan’s three largest convenience store chains with over 16,000 stores in Japan and 6,000 stores throughout Asia.
About Maypro
Headquartered in New York with offices in Tokyo, Shanghai, and Milan, Maypro has established itself as a pioneer, having launched some of the most effective and commercially successful ingredients in the market such as CoEnzyme Q10, glucosamine, alpha-lipoic acid, PQQ and AHCC®, among many others. Maypro sets itself apart in the wellness industry by requiring rigorous clinical validation of the nutraceutical ingredients it supplies in the B2B market and that it uses in its own formulated branded finished products, which are also delivered in clinically validated doses for optimal efficacy and safety. This commitment to excellence reinforces Maypro’s reputation as a highly trusted global brand. Collectively, Maypro Group’s businesses have won 4 NutrAwards– more than any other company. Their ingredients or products have also received awards from NEXTY, Natural Choice, Ingredient Idol, and Scientific Excellence from SupplySide West.
About ITOCHU Corporation
The history of ITOCHU Corporation dates back to 1858 when the Company’s founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 160 years. With approximately 219 businesses, 7 domestic offices in Japan and an estimated 87 overseas offices in 61 countries, ITOCHU is a leader in domestic trading, import/export, and overseas trading of textiles, machinery, metals, minerals, energy, chemicals, food, general products, realty, finance, as well as satellite and data communications technology on a global scale.
Media Inquiries
Maypro Group
Danielle Reilly, Director of Marketing Strategy and Public Relations
[email protected]
(914) 251-0701 x144
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SOURCE Maypro Group
