Pulmuone Closes Asset Purchase Agreement with Vitasoy USA

FULLERTON, Calif., May 12, 2016 /PRNewswire/ -- Pulmuone Foods Co., Ltd. announced on May 9th it has completed the acquisition of substantially all of the assets of Vitasoy USA Inc., which includes the NASOYA®, AZUMAYA® and SAN SUI® brands in North America.  This acquisition solidifies Pulmuone's position as the world's leading tofu company while strengthening its operations in South Korea, U.S., Japan and China.  Pulmuone had previously announced it had entered into an asset purchase agreement to acquire Vitasoy USA Inc. on March 24^th.

This acquisition provides bi-coastal production and logistics capabilities as well as a national sales and distribution platform," said Mr. H. Y. Lee, CEO of Pulmuone Foods Co., Ltd.  "We are especially excited about expanding the brand beyond the tofu category through our innovative product development and with our multi-channel business base.  We look forward to bringing our customers and consumers more healthy and tasty products."

The acquired business, now known as Nasoya Food USA LLC., joins the Pulmuone family of healthy and nutritious brands and will be a part of our significant expansion in the U.S.  M&A will continue to drive future growth for Pulmuone in North America and globally.

Ross Gatta has been appointed to lead the Nasoya Food USA business as CEO.  The acquired operations will remain in Ayer, MA with significant investments planned to grow the business.

About Pulmuone Co., Ltd.

Established in 1984 and committed to providing authentic wholesome food products, Pulmuone Co., Ltd. is a Korea-based holding company with more than 1.8 trillion KRW (approximately USD $1.5 billion) in annual sales. The company is engaged in the management of subsidiaries, primarily in the food manufacturing and food ingredients distribution businesses. Currently the company has 25 affiliates, including Pulmuone Foods Co., Ltd and Pulmuone Foods USA, Inc. and is a leader in refrigerated all-natural food products. The company's U.S. portfolio includes the Monterey Gourmet Foods™ brand, featuring all-natural pastas and sauces, and the Wildwood® brand, offering meat alternatives such as tofu, salsas, hummus and dairy alternatives.  Committed to the health of its customers and to sustaining the environment while contributing to society, today Pulmuone is a member of the United Nations Global Compact, a policy initiative for businesses committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption.

About Pulmuone Foods USA, Inc.

Pulmuone Foods USA Inc. was established in 1991 and is headquartered in Fullerton, CA.  Pulmuone Foods USA, Inc. is committed to providing authentic wholesome foods featuring the highest quality, all-natural ingredients. A leader in refrigerated all-natural food products, the company's portfolio includes the Monterey Gourmet Foods™ brand, featuring all-natural pastas and sauces, and the Wildwood® brand, offering meat alternatives such as tofu, salsas, hummus and dairy alternatives. Pulmuone Foods USA, Inc. is a wholly owned affiliate of Pulmuone Co., Ltd., a Korea-based holding company with more than 1.8 trillion KRW (approximately USD $1.5 billion) in annual sales. In the U.S., the company has corporate, sales and food science headquarters in Fullerton, California with manufacturing facilities in California and New York.

Pulmuone Foods USA, Inc. Contacts:

- Mr. Doseok Kim (714) 450 - 7871
- Mr. Ross Gatta   (714) 864 - 9729

Logo - http://photos.prnewswire.com/prnh/20160512/367158LOGO

SOURCE Pulmuone Foods Co., Ltd.