Nocera acquires 80% controlling interest in Meixin for $4.3M via VIE agreements

NOCERA, INC.

Purchase price of $4.3 million for an 80% controlling stake in Meixin, a Taiwan food processor.
Meixin (est. 2003) produces hot/frozen meals, bento boxes, group meals; serves Chinatrust Bank, Fubon.
Acquisition expected to generate ~$5 million in revenue for fiscal 2023, per CEO Jeff Cheng.
Meixin will produce bento boxes, seafood porridge, BBQ eel rice as part of Nocera's vertical integration.
Transaction structured through VIE: voting proxy, exclusive business cooperation, equity pledge, and call option.

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