From left, Mr. Koh Choon Kiat, Mr. Koh Kevin, Mr. Tominaga

Tominaga Shoji Holdings Acquires 50% Shares in Freshmart Singapore

Nihon M&A Center is pleased to announce its advisory support for the cross-border M&A transaction between Tominaga Shoji Holdings Co., Ltd. (“Tominaga Shoji HD”) and Freshmart Singapore Pte. Ltd. (“Freshmart”). Through this transaction, Tominaga Shoji HD has acquired 50% of the shares in Freshmart, marking a significant step in the company’s global expansion strategy.

Advancing Global Growth: Third-Generation Leadership Drives ASEAN Strategy

Tominaga Shoji HD, which holds one of the largest market shares in the import and sale of onions and pumpkins, has been actively expanding its global footprint in recent years, with M&A playing a key strategic role. In August 2025, the company welcomed Freshmart into its group as part of this ongoing initiative.

As a leading fresh produce import wholesaler in Singapore, Freshmart boasts a high market share in the import and sale of kiwi fruits and berries. Leveraging a global supplier network, robust quality control, and advanced warehouse logistics, the company serves a wide range of food industry clients, including major supermarket chains.

Following the acquisition, the founding family will continue to lead the business, with both companies set to pursue growth through shared capabilities, expertise, and import/export networks.

Tominaga Shoji HD also operates farms in Japan and plans to expand exports of premium Japanese agricultural products, particularly high-value fruits targeted at affluent consumers across Asia. This aligns closely with Japan’s national policy to boost agricultural exports.

Reflecting on the milestone, President Hiroshi Tominaga shared: “Kevin (Director and Freshmart’s founding family), is the same age as I am. I hope to build the future of this industry together with him as part of the same group.”

The M&A signing ceremony was held in Singapore on 25 August 2025, marking the beginning of this new partnership.

Comment from Nihon M&A Center Singapore

“This deal represents a strong strategic fit, bringing together complementary strengths that will unlock new opportunities for growth and innovation. The smooth execution of this transaction is a testament to the trust, professionalism, and collaboration of all parties involved. We look forward to the exciting journey ahead and the long-term value this partnership will deliver to stakeholders,” said Jeremy Ng, Consultant who supported the deal from end-to-end.

Acquiring Company

Company Name: Tominaga Shoji Holdings Co., Ltd.

Business Description: Wholesale and import/export of agricultural products, cultivation, processing, and sales of agricultural products

Website: https://www.tsckobe.co.jp/ 

Transferred Company

Company Name: Freshmart Singapore Pte. Ltd.

Business Description: Wholesale of fresh produce import, warehouse logistics services

Website: https://www.fmart.com.sg/