Mergers & Acquisitions
By The Online Investor Staff, updated Fri., Sep. 18, 9:34 AM
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Slide #99. iFresh, Inc. — Jiuxiang Blue Sky Technology (Beijing) Co., Ltd.
Acquirer:
iFresh, Inc. (NASDAQ:IFMK)
Acquiree:
Jiuxiang Blue Sky Technology (Beijing) Co., Ltd.
Details:
iFresh, Inc. ("iFresh" or the "Company") (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, is pleased to announce that it has completed acquisition of Jiuxiang Blue Sky Technology (Beijing) Co., Ltd. ("Jiuxiang"), a technology company that engages in supply chain financial services, integrated payment systems, and prepaid card marketing systems (the "Acquisition"). As a result of the Acquisition, Jiuxiang has become an indirect wholly-owned subsidiary of iFresh.
iFresh, through its subsidiary, NYM Holding, Inc., is an Asian/Chinese grocery supermarket chain in the North Eastern United States providing food and other merchandise in grocery stores. Co. has retail supermarkets across New York, Massachusetts and Florida. In addition to retail supermarkets, Co. operates one in-house wholesale business, Strong America Inc. (Strong America), that provides wholesale products and service to Co.'s retail supermarkets and external customers including wholesale stores, retail supermarkets and restaurants. Strong America is also a distributor of overseas brands, covering cooking wine, yellow wine, rice noodles, seasonings and spices and snacks.
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