Binggrae buys Haitai Icecream for 140 billion won

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Binggrae buys Haitai Icecream for 140 billion won

Binggrae signed an agreement to acquire Haitai Icecream, a subsidiary of Haitai Confectionery and Foods, for 140 billion won ($125 million), the company announced Tuesday.

The exact date of the acquisition has yet to be determined.

Haitai Icecream was separated from Haitai Confectionery and Foods in January.

A spokesperson from Binggrae said the company expects the acquisition to generate synergy effects with ice cream from Haitai, which includes the chestnut-flavored Babambar dessert.

BY JIN MIN-JI [jin.minji@joongang.co.kr]
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