What Happened: The company agreed to acquire Yai's Thai, Inc., a leading Thai American food brand, for an undisclosed price.
The deal will be funded through cash and stock.
Yai's Thai shows substantial growth in the ready-to-eat market and is projecting continued expansion in 2024; it anticipates revenues of $8 million-$10 million in 2023.
Yai's Thai products are available in over 4,500 stores nationwide, including major retailers like Costco, Whole Foods Market, Safeway, Sprouts, and Kroger.
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Why It Matters: "Yai's Thai holds significant importance for the DayDayCook family, enhancing our presence in key food retail sectors and elevating consumer awareness about DDC's market offerings. This represents our second U.S. acquisition, reinforcing our presence in the Asian convenient meal solutions sector," DDC founder and CEO Norma Chu said
Price Action: DDC shares are trading higher by 7.64% at $4.79 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was Reviewed And Published By Benzinga Editors.
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