Korea Small Cap Gem #52: Samchully (To Acquire Sung Gyung Food)
On 26 December, Samchully (004690 KS) announced that it plans to acquire a 100% stake in Sung Gyung Food for 119.5 billion won in cash.
We like this deal for Samchully mainly because it represents purchase of one of the top brands in the seaweed (gim, laver) industry in Korea with excellent export potential.
In this case of Samchully purchasing Sung Gyung Food, we are Positive on this deal and we expect this deal to have a long-term positive impact on Samchully’s share price.
Sung Gyung gim (laver) products (Source: Company data)
