E-mart to acquire US food retailer Good Food Holdings for $270m
By Kim Da-solPublished : Dec. 7, 2018 - 16:01
South Korean retail giant Shinsegae’s discount store chain E-mart said Friday that it is acquiring US food retailer Good Food Holdings for $270 million, the company’s first acquisition of an overseas company.
E-mart said the acquisition is aimed at stabilizing its business operation in the US and expanding its presence in the country.
![](//res.heraldm.com/content/image/2018/12/07/20181207000710_0.jpg)
Good Food Holdings runs three fresh food and beverage brands: Bristol Farms, Lazy Acres and Metropolitan Market. It has 24 stores across the western region of the US.
E-mart said it will maintain the original executive board at Good Food Holdings, which has 3,100 employees and reports average annual sales of 670 billion won.
Earlier this year, E-mart announced that it would be opening a premium store-restaurant called PK Market in Los Angeles in the second half of 2019.
By Kim Da-sol (ddd@heraldcorp.com)
E-mart said the acquisition is aimed at stabilizing its business operation in the US and expanding its presence in the country.
![](http://res.heraldm.com/content/image/2018/12/07/20181207000710_0.jpg)
Good Food Holdings runs three fresh food and beverage brands: Bristol Farms, Lazy Acres and Metropolitan Market. It has 24 stores across the western region of the US.
E-mart said it will maintain the original executive board at Good Food Holdings, which has 3,100 employees and reports average annual sales of 670 billion won.
Earlier this year, E-mart announced that it would be opening a premium store-restaurant called PK Market in Los Angeles in the second half of 2019.
By Kim Da-sol (ddd@heraldcorp.com)