CJ Cheiljedang Seemingly Sweet On Kirin Co

South Korean food producer CJ Cheiljedang Corp is reportedly considering bidding for a 28% stake in confectionery and baked goods manufacturer Kirin Co. The acquisition, which is rumoured to be valued at around KRW37bn (US$36.6mn), would give CJ a foothold in South Korea's high growth confectionery market. However, it would also mean further diversification for the already far-reaching company at a time when most players are seeking synergies and looking to focus on their core business lines in an effort to reduce costs.

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