B&R Global Holdings agrees to merge with HF Foods in US

US-based HF Foods Group and wholesaler B&R Global Holdings have agreed to merge their operations.

B&R Global Holdings will merge into HF Foods as its wholly owned subsidiary.

HF Foods chairman and CEO Zhou Min Ni said: “With this merger, the combined company will be the largest distributor to Asian restaurants in the US.

“With the combined resources of our two pioneering companies, we are well positioned to take advantage of the growing trend of food consumption away from home and of Asian cuisines in particular.”

For this merger, HF Foods will issue nearly 30.7 million common stock shares to the former shareholders of B&R Global Holdings as consideration for the transaction.

Completion of the merger is subject to customary closing conditions and is expected to close in the third quarter of this year.

Established in 1999, B&R Global Holdings is a food wholesaler and distributor for Asian restaurants in the US. It currently serves approximately 6,800 restaurants in 11 western states.

Upon completion of the deal, the combined business will serve more than 10,000 restaurants in 21 states.

Headquartered in Greensboro, North Carolina, HF Foods Group distributes fresh produce, frozen and dry food, and non-food products primarily to Asian restaurants, as well as other foodservice customers throughout the southeast region of the US.

With three distribution centres along the US eastern seaboard, HF Foods intends to meet the increasing demand for Asian American cuisine.