ITOCHU-SHOKUHIN Co., Ltd. (TSE: 2692) completed the acquisition of an additional 62.7% stake in Suhara Foods Corporation.
April 02, 2012 at 12:00 am EDT
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ITOCHU-SHOKUHIN Co., Ltd. (TSE: 2692) agreed to acquire remaining 65% stake in Suhara Foods Corporation on September 28, 2011. The contract for the transaction will be signed at the end of December, 2011. Suhara Foods' operations will be integrated into those of Itochu-Shokuhin's Hokkaido branch in April, 2012.
As of December 20, 2011, ITOCHU-SHOKUHIN Co., Ltd will acquire an additional 64% stake in Suhara Foods Corporation. ITOCHU-SHOKUHIN will acquire additional 1.22 million shares of Suhara Foods Corporation. After the transaction, ITOCHU-SHOKUHIN will hold 99% stake in Suhara Foods Corporation. A share transfer contract will be concluded by January 20, 2012. The Board of Directors of ITOCHU-SHOKUHIN passed a resolution for the transaction on December 20, 2011 and the transaction is expected to be completed by April 2, 2012.
ITOCHU-SHOKUHIN Co., Ltd. (TSE: 2692) completed the acquisition of an additional 62.7% stake in Suhara Foods Corporation on April 2, 2012. ITOCHU-SHOKUHIN Co., Ltd. acquired 1.19 million shares and will operate Suhara Foods Corporation as its subsidiary.
ITOCHU-SHOKUHIN Co., Ltd. is a Japan-based company mainly engaged in alcoholic beverages and food wholesale business. The Company is engaged the provision of alcoholic beverages and foods wholesale business, the storage and transportation of related products, the provision of information regarding various products, as well as the merchandising business related to product distribution. It is also involved in the logistics management business, retail business, and food manufacture business.
ITOCHU-SHOKUHIN CO., LTD. 