South Korea’s E-Mart to purchase U.S. Good Food for about $267 mln

12/07/2018 9:00:00 PM (GMT)

South Korean hypermarket retail company E-Mart Inc., announced that it has agreed to purchase U.S. natural foods processing company Good Food Holdings, LLC for about 300 billion won ($267 million).

E-Mart said that it plans to fetch $288.1 million by issuing new shares of its U.S. unit PK Retail Holdings Inc.

The company added that it is raising the funds to buy Good Food Holdings, LLC via through its subsidiary.

E-Mart is planning to purchase a full stake in Good Food Holdings.

E-Mart

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