LG Household&Health Care Acquire Yunjin Pharm Drink Business Unit
October 16, 2013 16:08 KST
SEOUL--(Korea Newswire) October 16, 2013 -- LG Household & Health Care Ltd. (‘LG H&H’, CEO: Suk Cha) and LG H&H’s subsidiary, Haitai Beverage Co., Ltd (‘Haitai Beverage’), will acquire the assets of pharmaceutical company, Yungjin Pharm Co., Ltd (‘Yungjin Pharm’)’s drink business unit at 14.1 billion won, for the expansion into the FoSHU (Foods for Specified Health Use) market.
Total acquisition price of Yungjin Pharm’s drink business unit is set at 14.1 billion won: Haitai Beverage will acquire 7.1 billion won of property, plant and equipment (PP&E) and inventory required for production and sales, and LG H&H will acquire 7.0 billion of intellectual property rights including the trade mark.
The acquisition is LG H&H’s strategic decision to respond to the FoSHU market, the market continuously growing with increased consumer health awareness, and to expand the current beverage business.
Through the acquisition, LG H&H will enter into approx. 800 billion won FoSHU market with products including energy drink, red ginseng extract drink, hangover cure drink, diet drink, and beauty drink, and will further strengthen its position in the beverage market.
The major products of Yungjin Pharm drink business unit include ‘Yungjin Glonsan Vermont’, ‘Vita-C Gold’, ‘Red Ginseng Extract’, ‘Q10’, etc.
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