PuraPharm Corp. Ltd., through its Japanese unit, signed a share purchase agreement to acquire health food manufacturer and seller SODX Co. Ltd. in a deal worth ¥244 million.
Under the deal, SODX will become an indirect wholly owned subsidiary of the Hong Kong-based Chinese medicine company.
PuraPharm will use SODX's factory as a pilot facility to transfer technological know-how from Japan to help improve quality and production efficiency of PuraPharm Chinese healthcare products. PuraPharm will also use the pilot factory as a new product development center for business expansion.
SODX produces its own branded products and makes health products and packaging specified by its customers.
As of Aug. 14, US$1 was equivalent to ¥109.46.