Kagome Co., Ltd. (TSE:2811) acquired 50% stake in Ingomar Packing Company LLC for approximately $240 million on January 26, 2024. Together with the 20% equity stake already acquired in 2016 via Kagome Inc. (hereinafter, ?KIUS?), a wholly owned subsidiary of the Company, this additional acquisition will result in Ingomar becoming a consolidated subsidiary of the Kagome Group. The Company will contribute all shares of Kagome Inc. it holds in kind to Kagome USA Holdings Inc. by the end of March 2024. Kagome Co., Ltd. will also transfer the 20% equity stake in Ingomar held by Kagome Inc. to Kagome USA Holdings Inc. This will result in Kagome USA Holdings Inc. becoming a parent company of both Kagome Inc. and Ingomar. In the future, Kagome USA Holdings Inc. is expected to serve not only as a holding company of Kagome Inc. and Ingomar but as a control base overseeing the business, funding, and governance of the Kagome Group in the US. Ingomar reported net assets as approximately $120 million, total assets as approximately $200 million, revenue as approximately $310 million, operating income as $55.03 million and net income as $53.053 million for the fiscal year ended on June 30, 2023. The Company has borrowed the entire amount of the acquisition cost of 50% equity stake in Ingomar of $0.243 million as a bridge loan denominated in Japanese yen from financial institutions. Board of directors of Kagome Co., Ltd. resolves the acquisition.

Kagome Co., Ltd. (TSE:2811) completed the acquisition of 50% stake in Ingomar Packing Company LLC on January 26, 2024.