CROWN Confectionery Co., LTD. agreed to acquire an additional 42.6% stake in Haesung Nongrim Co.,Ltd. for KRW 31 billion.
September 22, 2016
Share
CROWN Confectionery Co., LTD. (KOSE:A005740) agreed to acquire an additional 42.6% stake in Haesung Nongrim Co.,Ltd. for KRW 31 billion on September 23, 2016. CROWN Confectionery will acquire an additional 0.11 million shares of Haesung Nongrim. On completion, CROWN Confectionery will own 95.4% stake in Haesung Nongrim. Haesung Nongrim reported total assets of KRW 67.4 billion, total capital of KRW 38.4 billion, sales of KRW 1 billion and net profit of KRW 464.2 million as of December 31, 2015. The deal is expected to close by September 29, 2016.
CROWNHAITAI Holdings CO.,LTD, formerly CROWN CONFECTIONERY CO.,LTD, is a Korea-based company mainly engaged in the production of confectionery products. The Company's products include biscuits, wafers, snacks, pies, chocolates, sweets and gums. Its biscuit brands include Charmgreen, Five grains cookie, KUK HE and others. Its wafer brands include Green Heim, Choco and White Heim, and Crown Wafers. Its snack brands include Corn Pong, Jollypong, Corn Chip and others. Its pie brands include Lonx, O'new and others. Its chocolate brands include Kicker, Minishell and Black Rose. Its sweets brands include Mychew, Mango TwoTwo, Mint Candy and others. Through its subsidiaries, it also engages in the production of ice cream products, dumplings, breads, cakes, cookies and other frozen products, as well as engages in the franchise business and real estate leasing business.
CROWNHAITAI HOLDINGS CO.,LTD. 
