Lifedrink Company, Inc. entered into an agreement to acquire Nitto Beverage Co.,Ltd. from Nitto Boseki Co., Ltd. for Ñ1.6 billion.

Lifedrink Company, Inc. (TSE:2585) entered into an agreement to acquire Nitto Beverage Co.,Ltd. from Nitto Boseki Co., Ltd. (TSE:3110) for Ñ1.6 billion on November 8, 2022. Lifedrink Companywill acquire 1,600 shares of Nitto Beverage Co.. Nitto Beverage recorded net asset of Ñ1.5 billion, total assets of Ñ2.1 billion, net sales of Ñ3.5 billion, operating profit of Ñ74 million and profit of Ñ56 million for the year ended March 31, 2022.

The transaction is expected to close on January 4, 2023