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Stock impact report

HF Foods Group and B&R Global Holdings Enter Into Merger Agreement

HF Foods Group Inc. (HFFG) 
Company Research Source: GlobeNewswire
GREENSBORO, N.C., June 25, 2019 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ:HFFG) and B&R Global Holdings, Inc. today announced that they have entered into a merger agreement pursuant to which they will combine their operations.  Pursuant to the terms of the merger agreement, at the closing of the merger, B&R Global Holdings will merge into HF Foods’s wholly owned subsidiary, resulting in B&R Global Holdings becoming a wholly owned subsidiary of HF Foods.  HF Foods will issue approximately 30.7 million of its shares of common stock to the former shareholders of B&R Global Holdings as consideration for the transaction.  The closing of the merger is subject to, among other things, the approval of HF Foods’s stockholders. B&R Global Holdings, which began operations in 1999, is a food wholesaler and distributor for Asian restaurants in the United States.  It serves approximately 6,800 restaurants in eleven western states. "With this merger, the combined company will be the Show less Read more
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