FOODLIER Co.,Ltd. cancelled the acquisition of Deli Fresh Foods Co., Ltd. from OM2 Network Co.,Ltd..
January 05, 2017
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FOODLIER Co.,Ltd. concluded a share exchange agreement to acquire Deli Fresh Foods Co., Ltd. from OM2 Network Co.,Ltd. (JASDAQ:7614) in stock on January 6, 2016. As consideration, FOODLIER will issue 17.66 million shares. Under the terms, FOODLIER will issue one share for every 44.16 share of Deli Fresh Foods Co., Ltd. Deli Fresh Foods Co., Ltd. reported total assets of ¥2.51 billion, net assets of ¥781 million, sales of ¥6.97 billion, operating profit of ¥100 million and net income of ¥78 million for the period ending January 2015. The transaction is subject to approval from the shareholders of FOODLIER and Deli Fresh Foods Co., Ltd. in the extraordinary shareholders’ meeting scheduled on February 26, 2016. The transaction was resolved by the Board of OM2 Network Co., Ltd. and Deli Fresh Foods Co., Ltd. The transaction is expected to close on March 1, 2016. Nozomi Godo Kaikeisha, K.K. and UHY FAS Ltd. acted as independent valuation institutions for FOODLIER and Deli Fresh Foods respectively.
FOODLIER Co.,Ltd. cancelled the acquisition of Deli Fresh Foods Co., Ltd. from OM2 Network Co.,Ltd. (JASDAQ:7614) on January 6, 2017.
OM2 Network Co., Ltd. is primarily engaged in the retail of meat. The Company is also engaged in the other restaurant business. The retail of meat business is engaged in the retail of meat and processed products, as well as sales of prepared food. The meat and other manufacturing and processing business is engaged in the manufacture and sales of processed meat products, frozen noodles, and others. The restaurant business is engaged in the operation and management of grilled meat restaurant and steak restaurant.