Our client, a South Korean food manufacturer and the largest global manufacturer of kimchi is forming the joint company with Charsznickie Pola Natury, a Polish manufacturer of organic pickled vegetable products cooperating with major retail chains.
As a result of the cooperation our client will take a 76% stake in new Polish-Korean company, which will build a production facility in Poland. The value of the investment is to be approx. USD 10.6 million (almost PLN 50 million). The company will produce kimchi and other Korean cuisine products.
DZP lawyers supported Daesang Corporation in implementing this venture, from structuring it to drafting a joint venture agreement governing the terms and conditions of the joint venture cooperation between the two companies.
Our client was advised by Przemysław Lach, Associate, and Robert Niczyporuk, Partner, from the Corporate and M&A Practice. The team was supported by Jarosław Łukawski, Partner, and Jan Siesicki, Associate, from the competition law team, Wojciech Koczara, Partner from the Real Estate Practice and Joanna Wierzejska, Partner, and Grzegorz Sprawka, Counsel from the Tax Practice.