Naracella Expands Stake in Subsidiary Soju Story... Launches K-Distilled Spirits Business Infrastructure

Naracella announced on the 11th that it will acquire additional shares in its consolidated subsidiary Soju Story through a public disclosure. This move follows the recent launch of a dedicated task force (TF) for the K-distilled spirits business and marks the company's official start in building infrastructure for product manufacturing.

According to the Financial Supervisory Service's electronic disclosure system, Naracella plans to participate in Soju Story's rights offering and acquire 400,000 shares for approximately 4 billion KRW. After the acquisition, Naracella's total shareholding in Soju Story will increase to 488,000 shares, representing 88.89% of the company.

Naracella previously acquired a stake in Soju Story in September last year as part of its entry into the K-distilled spirits manufacturing business. All funds raised through this rights offering will be invested in the K-distilled spirits business. Soju Story is headquartered in Andong, North Gyeongsang Province, and Naracella has laid the groundwork for the K-distilled spirits business by signing an investment memorandum of understanding with Andong City.

With this additional share acquisition, Naracella plans to maximize synergy with Soju Story not only in the production sector but throughout the entire process, including planning, development, production, and distribution. The company aims to strengthen the linkage between its core business and new ventures to secure differentiated competitiveness in the premium distilled spirits market.

A Naracella representative stated, "As the K-distilled spirits business is part of the traditional liquor industry, we decided to acquire additional shares through a rights offering to facilitate smooth infrastructure development via the agricultural corporation Soju Story," adding, "Full-scale infrastructure construction will begin soon."

He continued, "With various K-foods such as Buldak Ramen and frozen gimbap gaining global popularity, we will actively promote the excellence of our distilled spirits and pioneer new markets," adding, "Through this, we aim to diversify our business portfolio and achieve further performance improvement."

Naracella plans to continue strengthening its global market competitiveness based on a diverse alcoholic beverage portfolio encompassing premium wines and distilled spirits.

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