CJ FOODS JAPAN Co., Ltd. agreed to acquire 50% stake in Ebara CJ Fresh Foods Co., Ltd. from Ebara Foods Industry,Inc..
September 12, 2021
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CJ FOODS JAPAN Co., Ltd. agreed to acquire 50% stake in Ebara CJ Fresh Foods Co., Ltd. from Ebara Foods Industry,Inc. (TSE:2819) on September 13, 2021. As per terms of transaction, Ebara Foods Industry,Inc. will transferre 250 shares representing 50% stake. Post completion, Ebara CJ Fresh Foods Co., Ltd. will be excluded from Ebara Foods Industry,Inc. affiliated companies. The Share Purchase agreement will be singed on September 30, 2021 and transaction is expected to complete on October 31, 2021. The impact of the dissolution of the joint venture on the consolidated financial results of the Ebara Foods Industry,Inc. for the fiscal year ending March 2022 is expected to be minor.
EBARA Foods Industry, Inc. is a food manufacturing company. The Food segment is engaged in the manufacture and sale of sauce for various meat, such as barbecued meat sauce and chicken sauce; sauce for stew, such as Korean pickled cabbage hot pot sauce, and sauce for vegetables, such as pickle sauce, as well as the manufacture and sale of other food, including curry flakes, konjac and seaweed salads. The segment also involves in the manufacture and sale of soup, such chicken-bone soup and noodle soup. The others business is engaged in the advertising business, temporary staffing business, the operation of warehousing and cargo transportation businesses.
EBARA FOODS INDUSTRY,INC. 
