Investment · Food (flour milling)
NIPPN takes 25% of a new Utah flour mill, its first US milling business
- Investor
- NIPPN (Tokyo)
- In
- Utah Flour Milling (Greenfield Milling), Richmond, Utah
- Value
- $25M for 25%
- Status
- Agreed May 15, 2023. The mill started some lines in February 2025 and reached full operation by September 2025.
- Date
- 2023-05-15
NIPPN agreed to invest $25 million (about ¥3.3 billion) for a 25% stake in Utah Flour Milling, a new flour mill built by PHM Brands. The mill sits next to Campbell's Pepperidge Farm plant and supplies it under a 20-year contract. It opened fully in 2025, about a year later than first planned.
Why it matters
It is NIPPN's first step into US flour milling, alongside its existing US premix and pasta businesses.
The mill
The mill is in Richmond, Utah, and can grind about 7,500 hundredweight, or roughly 340 tons, of flour a day. A pneumatic system blows the flour straight next door to Pepperidge Farm, which uses it for Goldfish crackers and Milano cookies. The mill also uses a patented pathogen-reduction process from Energis Solutions, a sister company. It is run by Greenfield Milling, founded by grain industry veterans John Mason and Bryan Ledgerwood.
NIPPN in the US
NIPPN called it the first time in its history that it entered flour milling in the US. It already sells premixes through NIPPN California and makes pasta through Pasta Montana, and it plans to link those businesses with the mill.
Sources
Kakehashi M&A News home
