Pulmuone to Acquire Nasoya
Company signs asset purchase agreement with Vitasoy USA
On March 23, 2016, Pulmuone Foods Co., Ltd. signed an asset purchase agreement to acquire substantially all of the commercial assets and operations of Vitasoy USA Inc., a soy foods company based in Ayer, Massachusetts.
Pulmuone Foods USA Inc. was established in 1991 and is headquartered in Fullerton, CA. The acquisition of substantially all of the commercial assets of Vitasoy USA Inc., including the NASOYA®, AZUMAYA® and SAN SUI® brands, is highly complementary and synergistic operationally and logistically, as well as within sales and distribution. Through the expanded business scale resulting from this acquisition, Pulmuone expects to continue to strengthen its leadership position within the tofu market and to rapidly expand its category footprint beyond tofu.
Mr. H. Y. Lee, CEO of Pulmuone Foods Co., Ltd., stated, "Pulmuone now has a strong national platform and presence that will not only drive manufacturing and logistics synergies, but will also enable us to leverage a comprehensive sales and distribution infrastructure to further drive availability of our brands and products within the USA.” Mr. Lee went on to say, "This expanded business scale within the USA market will also serve as a beachhead to drive development and growth of Pulmuone beyond the tofu category."
• The acquisition gives Pulmuone a market leadership position in the US. tofu category.
• Combined production, distribution and market coverage footprint provides platform for continued growth in tofu and beyond.
• Consolidated operations foothold within the global tofu markets (Korea, US, Japan and China) supports worldwide tofu category leadership.