DDC Enterprise, a prominent company in the culinary industry, has announced its plans to purchase a controlling 51% stake in G.L. Industry S.p.A., an esteemed Italian producer of specialized Asian ready-meals. This news has resulted in a significant surge of 11% in the value of DDC Enterprise shares, reaching $3.33.
The acquisition of G.L. Industry marks yet another milestone in DayDayCook’s international expansion strategy, further solidifying its presence in the global market. This deal will be financed through a combination of cash and DDC stock, demonstrating the company’s commitment to growth and innovation.
G.L. Industry has built a strong reputation for itself by offering a diverse range of ready-to-cook and ready-to-heat Asian foods. These products are highly sought after by both retail outlets and catering customers. With private label agreements with over 7,000 European retailers, as well as its own Asiamama and Sushimama brands, G.L. Industry has successfully positioned itself as a leading player in the European market.
In exchange for acquiring a majority stake of 51%, DDC will pay a total of $9.3 million in cash over the course of the next three years. Additionally, there is potential for further consideration in the form of cash and stock-based on G.L. Industry’s revenue and Ebitda performance during this period. The completion of this acquisition is anticipated to take place within the first quarter of this year.
For more information on this exciting development, please contact Chris Wack.
