Binggrae buys Haitai Icecream for 140 billion wonBinggrae 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 [email@example.com]