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E-Mart to acquire U.S. food retailer for 300 bln won

Industry 16:04 December 07, 2018

SEOUL, Dec. 7 (Yonhap) -- E-Mart Inc., South Korea's leading discount chain operator, said Friday it has decided to acquire a U.S.-based food retailer for around 300 billion won (US$267 million).

The company said in a regulatory filing it will raise 324.1 billion won by issuing new shares of PK Retail Holdings Inc., its U.S. subsidiary.

E-Mart said the move is aimed at purchasing Good Food Holdings, LLC through the subsidiary.

The South Korean retailer said it is planning to acquire a full stake in Good Food Holdings.

The E-Mart corporate logo atop its headquarters building in Seoul (Yonhap)

colin@yna.co.kr
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