City Creation Holdings Co., Ltd. agreed to acquire 65% stake in Horiifoodservice Co., Ltd. (TSE:3077) for ¥1.44 billion on June 10, 2024. A cash consideration of ¥1.44 billion valued at ¥392 per share will be paid by City Creation Holdings Co., Ltd. As part of consideration, ¥1.44 billion is paid towards common equity of Horiifoodservice Co., Ltd.

The transaction is subject to minimum tender of 2.98 million shares, and is expected to commence around mid-July 2024.