Fresh2 Group Ltd. Announces Acquisition Of Cross-Border Food E-Commerce Platform Youfood Group Inc.; Fresh2 Has Agreed To Acquire 100% Of The Issued And Outstanding Shares In Youfood In Exchange For 38,333,334 Newly Issued Shares Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Fresh2 Group Ltd. (NASDAQ:FRES) has signed an agreement to acquire Youfood Group Inc., a cross-border e-commerce food platform. The acquisition will be made through the exchange of 38,333,334 newly issued shares of Fresh2's Class A common stock. This move aims to connect Asian and South American food resources with North American customers, enhancing Fresh2's customer base and expanding its food supply chain ecosystem.
January 04, 2024 | 2:17 pm
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Fresh2 Group Ltd. is acquiring Youfood Group Inc. to expand its B2C e-commerce platform and supply chain in the food industry, potentially increasing its market share and customer base in North America.
The acquisition of Youfood Group Inc. by Fresh2 Group Ltd. is likely to have a positive short-term impact on Fresh2's stock price. The deal could be seen as a strategic expansion into B2C e-commerce, which may improve market sentiment about Fresh2's growth prospects and diversification of services. The issuance of new shares could dilute existing shareholders, but the potential for increased revenue and market share might offset this concern.
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