DayDayCook Announces Agreement to Acquire 51% of Italian G.L. Industry S.p.A, a Specialized Asian Food Brand
DDC Enterprise Limited (DDC)
US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=65233&p=irol-irhome
Company Research
Source: GlobeNewswire
NEW YORK, Jan. 10, 2024 (GLOBE NEWSWIRE) -- DDC Enterprise, Ltd., (NYSEAM: DDC) (“DayDayCook,” “DDC,” or the “Company”), a leading content-driven food consumer brand, announces it has entered into an agreement to acquire 51% of G.L. Industry S.p.A (“GLI”), an Italian producer of specialized Asian ready-meals. The acquisition will continue the expansion of DayDayCook’s international footprint and will be financed through a combination of cash and DDC stock. Oaklins HFG China provided advisory services for this transaction. GLI produces ready-to-cook and ready-to-heat Asian foods for retail outlets and catering customers. GLI sells its products to over 7,000 European retailers under private labels as well as under the GLI owned Asiamama and Sushimama brands. GLI recently invested substantially in state-of-the-art machinery and currently manages two production facilities, which will provide the capacity to grow its revenue, which was approximately $11M in 2023 derived primarily fr
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