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Press photo (Nissin Foods)

Nissin Foods acquires Gaemi Food

The deal is valued at KRW48,000m (HK$271.7m).

Nissin Foods Company Limited has announced the acquisition of Gaemi Food, a manufacturer of crispy roll snacks in Korea. 

The share purchase agreement entails the acquisition of 100% equity interest in Gaemi Food for a total value of KRW48,000m (HK$271.7m). 

Upon completion of the acquisition, Gaemi Food will operate as a wholly-owned subsidiary of Nissin Foods, specialising in the production and distribution of baked grain crispy rolls both domestically and internationally.

Gaemi Food, renowned for its flagship “baked crispy roll" line and catering to the high-value kids and toddlers' snack market, generated revenues of KRW 20,150m (HK$121.6m) in 2023. 

The acquisition positions Nissin Foods to capitalise on the projected growth of the snack bars market in Korea, China, and Southeast Asia.

By integrating Gaemi Food into its operations, Nissin Foods aims to leverage its distribution capabilities and deepen its understanding of the Korean market. 

The acquisition also introduces the renowned Korean confectionery brand, "Kemy," to Nissin Foods' non-noodle business segment.

“Whilst leveraging Nissin Foods’ core competencies in marketing and food technology, the group is developing a non-noodle business that can create synergies with the instant noodle business,” said Kiyotaka Ando, executive director, chairman and chief executive officer of Nissin Foods.

“Most importantly, expanding into overseas markets not only diversifies our revenue sources, but also deepens our understanding of local cultures and consumer behaviours,” he added.


 

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