It was reported in Chosun Business Daily that the Phillippine food giant Jollibee Foods (JFC PM) is close to acquiring Norang Tongdak.
The entity to be sold is a 100% stake in Norang Food, the operator of Norang Tongdak. The sales price is expected to be around 150 billion won.
EV/EBITDA multiple ranges from 7.2x to 9.3x if we assume equity value range from 130 billion won to 160 billion won.
Norang Tongdak advertisement (Source: Norang Tongdak, Youtube)
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