Dongwon F&B Acquires Livestock Processing Company Sejung for 41.1 Billion KRW (Comprehensive)
[Asia Economy Reporter Seongpil Cho] Dongwon F&B announced on the 2nd that it has acquired Sejung, a livestock wholesale and retail company.
The acquisition amount for Sejung is a total of 41.1 billion KRW, including stocks and convertible bonds. After acquiring the shares, Dongwon F&B's stake in Sejung will be 100%. The scheduled date for acquiring the shares is the 31st of next month.
Sejung is a company that imports raw meat, processes it, and distributes products to catering companies, discount stores, large supermarkets, and online malls. Last year's performance was consolidated sales of 133.5 billion KRW and operating profit of 4.5 billion KRW.
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Dongwon F&B stated, "With the acquisition of Sejung, we have expanded our livestock business area, which was mainly focused on B2B (business-to-business) through Geumcheon Meat, to also include B2C (business-to-consumer)."
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