DDC Enterprise Limited (NYSEAM:DDC) entered into an agreement to acquire 51% stake in G.L. Industry S.p.A. on January 10, 2024. Under the terms of agreement, as consideration for the 51% acquisition, DDC will pay a total of approximately $9.3M in cash over the next three years plus additional potential consideration of cash and stock based on GLI?s revenue and EBITDA over the next three years. The acquisition will continue the expansion of DayDayCook?s international footprint and will be financed through a combination of cash and DDC stock. Post completion of the acquisition, Cristian will remain as the Chief Executive Officer of GLI, and I look forward to our collaboration as we continue to innovate and spread the joy of Asian cooking to more families in Europe.

The acquisition is subject to customary closing conditions and notifications in accordance with the applicable law. The transaction is expected to be completed in the first quarter of 2024. Oaklins HFG China served as exclusive financial advisor to DDC and advised DDC throughout the transaction. Enrico Troianiello of Dentons Europe Studio Legale Tributario and Carlo Gurioli and Mara Unterweger of Bureau Plattner, Legal Adviosry Arm acted as legal advisors to G.L. Industry.

DDC Enterprise Limited (NYSEAM:DDC) completed the acquisition of 51% stake in G.L. Industry S.p.A. on January 19, 2024.