'Buldakmyeon' Craze SND, News of Samyang Foods Sauce Company Acquisition ↓ [Featured Stock]

[Financial News] SND is experiencing a sharp decline during the day. It has been supplying the Buldak Bokkeum Myeon sauce to Samyang Foods, but it is believed to be affected by the news that Samyang Foods is pursuing the acquisition of a sauce specialty company.
As of 9:20 a.m. on the 14th, SND is trading at 110,400 won, down 16.17% from the previous trading day.
According to related industries on this day, Samyang Foods is known to have agreed to acquire 100% of the shares of the sauce company G&F for about 60 billion won. The transaction size amounts to about 60 billion won.
Samyang Foods is attracting investor attention as it embarks on mergers and acquisitions (M&A) for the first time in 10 years since acquiring the frozen food company Saeachim (now Samyang Square Mill) in 2015.
G&F is already supplying ramen soup, etc., to Nongshim and Ottogi. It is also supplying the raw materials for Samyang Foods' Buldak Bokkeum Myeon sauce. Last year's sales were 41.7 billion won, and operating profit was 3.2 billion won.

dschoi@fnnews.com Choi Doo-sun Reporter