Kahiki Foods has received a non-binding offer for all outstanding stock from an unnamed privately held company based in Pittsburgh, Pennsylvania.
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The mystery buyer has offered US$2.25 per share of common stock. Prior to the announcement, Kahiki shares closed yesterday (20 February) at $1.45.
If the offer is accepted, the bidder has indicated its intention to continue Kahiki’s existing operations, manufacturing frozen Asian foods.
While the identity of the buyer has been withheld, Kahiki has indicated that the company is part of a group of affiliated companies and that its parent had revenues of over $200m last year.
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