Kahiki Foods Inc has entered into a definitive merger agreement with Delaware-based Delabarta Inc and GTG Foods Inc, an Ohio corporation and a Delabarta subsidiary. Delabarta is a wholly owned subsidiary of ABARTA Inc, a privately held Pennsylvania corporation.
Upon shareholder approval of the merger and subject to other conditions, GTG Foods will be merged with Gahanna OH-based Kahiki, with Kahiki continuing as the surviving corporation. Upon consummation of the merger, each outstanding preferred share will be converted into the right to receive $3.288 in cash, and each outstanding common share will be converted into the right to receive $2.163 in cash.
Upon completion of the merger, Kahiki will continue as a privately held company, with manufacturing operations remaining in Gahanna. Kahiki produces authentic Asian frozen foods and distributes to retail grocery chains and membership warehouse clubs in the United States and Canada.