Taipei, February 3 (CNA) Taiwan-based food conglomerate Unipresident Enterprise Corporation has acquired convertible bonds issued by Yahoo. Taiwan Holding Co., Ltd. aims to cooperate with Yahoo in the field of e-commerce.
Uni President said in a statement on Friday that its subsidiary Cayman President Holdings spent US$25 million to acquire Yahoo Taiwan Corp.'s bonds, adding that the investment was not for Yahoo's equity ownership. he added, but did not rule out that possibility. Regarding partnering with Yahoo in e-commerce.
The food giant said the group has listed a wide range of products on Yahoo's e-commerce platform for many years, and the two sides have developed a close business relationship.
If Uni President and Yahoo cooperate in the development of e-commerce, Yahoo has a large number of e-commerce talent and can provide quick logistics, which will strengthen the competitiveness of food suppliers in this field. This is expected, the company said. After doing business in Taiwan for over 20 years, we now serve local consumers.
Currently, the United President owns Books.com, a leading online retail platform, which generates nearly NT$8 billion (US$256 million) in sales each year. Books.com is one of the leading online book sellers in Taiwan, and also sells miscellaneous goods to consumers.
UniPresident President Chain Store Corporation, which owns more than 6,000 7-Eleven convenience stores in Taiwan, launched iOPEN Mall in March to further penetrate the e-commerce field.
In addition, Uni-President's organic food division, Santa Cruz, sells fresh meat, seafood, vegetables and fruits online, and its health and beauty division, COSMED, also has an online eShop.
In recent years, Uni-President has been dedicated to building a logistics platform in the region by integrating offline and online retail capabilities.
From food production to retail, trading and investment, its operations span Asia, tapping regional markets such as China, South Korea, the Philippines, Vietnam, Thailand and Indonesia. In Taiwan, President Unified operates his 45 distribution centers.
Earlier this week, UniPresident announced its intention to pursue 100% ownership of its South Korean subsidiary Eunjin Foods through a tender offer.
The company announced that its board of directors has approved a plan to acquire the remaining 20.68% of Ungjin shares not already owned by UniPresident, in order to fully control the Korean food supply company.
Uni President Chairman Alex Lo said the company's goal is to reach NT$700 billion (US$22.36 billion) in annual sales.
The company's consolidated sales in 2023 were NT$580.99 billion, an increase of 10.74% from the previous year.
