Daehan Flour Mills Co.,Ltd (KOSE:A001130) acquired Chef's Food Co., Ltd for KRW 62 billion on October 11, 2022. In relation to the acquisition amount, if the annual operating performance of Chef's Food in 2022 and 2023 meets certain requirements, the acquisition value can be increased up to a maximum of KRW 5 billion. As of December 31, 2021, Chef's Food had Revenue of KRW 21.5 billion, Total assets of KRW 16.5 billion, Net income of KRW 3.5 billion and Total common equity of KRW 12.8 billion. The transaction is passed by a resolution of board of directors on October 11, 2022.
Daehan Flour Mills Co.,Ltd (KOSE:A001130) completed the acquisition of Chef's Food Co., Ltd on October 11, 2022.
DAEHAN FLOUR MILLS CO., LTD is a Korea-based company mainly engaged in the flour milling industry. The Company manufactures wheat flours, including chal jin haet flours, all-purpose flours, bread flours, cake flours and others used for making noodle soups, cakes, pizza, breads, snacks and various fried foods under the brand name Gom pyo; premix flours, which are used for second processed foodstuffs in homes, bakeries and bread manufacturers by mixing raw materials, such as wheat flour, various grains, milk fats and various ingredients; pastas, including spaghetti and macaroni, and Korean traditional noodles. The Company distributes its products within domestic market and to overseas markets.