Reborn Coffee Closes Acquisition of 58% Stake in South Korea's Bbang Ssaem Bakery [Yahoo! Finance]
Reborn Coffee, Inc. (REBN)
Company Research
Source: Yahoo! Finance
BREA, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN), a premier specialty coffee retailer, is pleased to announce the successful acquisition of a 58% stake in Bbang Ssaem Bakery, a leading bakery chain with 31 locations across South Korea. This acquisition follows the previously signed MOU between the two companies, solidifying Reborn Coffee's commitment to expanding its offerings and establishing a strong presence in the bakery sector. Bbang Ssaem's established presence in the Korean market, combined with Reborn Coffee's specialty coffee expertise, creates a unique opportunity to enhance brand strength. This acquisition also serves as a launchpad for Reborn Coffee's entry into the South Korean franchise market, delivering premium coffee and bakery experiences to new locations through a scalable and accessible model. With Bbang Ssaem Bakery's trailing twelve months revenue through November 2024, an estimated $7 million, this acquisition positions Rebor
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REBN
Sec Filings
- 11/19/24 - Form 10-Q
- 11/15/24 - Form NT
- 11/12/24 - Form S-1
- REBN's page on the SEC website