$SATS (S58.SG)$ More positive news so be ready to buy the di...

Japanese trading giant Mitsui & Co. has formed a strategic partnership with SATS, a prominent Singaporean airport services and in-flight meal supplier, to delve into the burgeoning Asian frozen food market. Mitsui is set to invest approximately 4 billion yen ($25.5 million) for a 15% share in SATS's subsidiary, Food Solutions Sapphire Holdings, which operates across India, Thailand, China, and Singapore. This investment, expected to complete by September, leverages SATS's expertise in high food-safety standards and the ability to cater to diverse food requirements, including halal compliance. The collaboration, building on a 2023 agreement, aims to capitalize on Asia's growing middle class and urbanization that has spiked demand for convenient frozen and prepackaged meals. SATS will benefit from Mitsui's extensive sales and procurement networks to diversify beyond its core business of in-flight catering, while in Japan, SATS's subsidiary TFK is already distributing products through high-end supermarkets with Mitsui's assistance.