NXC Acquires Italian Pet Food Company 'Serere'

Jungju Kim, CEO of NXC

[Asia Economy Reporter Kang Nahum] NXC, the holding company of Nexon, has acquired the Italian pet food manufacturer 'Cerere'.

According to NXC's audit report on the 11th, NXC acquired Cerere last year through its subsidiary Agrasdelic. The acquisition amount was approximately 27.8 billion KRW.

Agrasdelic, established in 1986, is an Italian premium pet food company. NXC purchased this company in 2018 for 75.9 billion KRW. Agrasdelic recorded sales of 90 million euros (about 120 billion KRW) last year.

Cerere, the company acquired this time, has also been producing premium pet food since 1977. Its 2019 sales were reported to be around 10 million euros (about 13.3 billion KRW). Accordingly, NXC's annual sales from the pet food business through these two companies have grown to 100 million euros (about 133.2 billion KRW).

NXC invested in these companies believing that the pet food market has high growth potential and future value as the global population of pet owners continues to increase.

Recently, NXC's investment activities outside the gaming sector have been prominent. Representative examples include the acquisition of Bricklink, a Hong Kong-based online LEGO trading intermediary, and Stokke, a Norwegian premium baby products company, in 2013. In June last year, through its investment subsidiary NXMH, NXC acquired a 23.9% stake in Moose Fashion, a leading Canadian apparel company.

This content was produced with the assistance of AI translation services.