Uni-President Enterprises Corp (統一企業), the nation's largest food conglomerate, announced yesterday a plan to boost its stake in Tait Marketing and Distribution Co (德記洋行) to strengthen their strategic alliance.
Uni-President plans to acquire 40 percent of Tait from the open market at NT$9.75 per share between Monday and Sept. 5. The investment will be close to NT$645 million (US$19.7 million).
This second wave of acquisition will raise Uni-President's control over Tait -- a consumer-goods distributor that markets groceries, personal care products, beverages and alcohol -- to nearly 60 percent, following its decision to obtain 19.5 percent of Tait from the open market last November.
"Since we started cooperating last year, we have reached a consensus to work more closely as our alliance has created synergy," Selina Wu (吳旭慧), a spokeswoman for Uni-President, said by telephone.
Tait, which owns the popular Kaixi (開喜) brand of oolong tea, has an extensive distribution network, covering restaurants, hotels, entertainment establishments and street vendors.
Uni-President, a member of the Uni-President Group (統一集團), has an extensive network of distribution channels across the country.
Shares of Uni-President were down NT$0.25 to NT$38.05 and those of Tait edged down NT$0.58 to NT$9.32 on the Taiwan Stock Exchange yesterday.
RSS