Fresh2 Group to acquire Youfood Group

Fresh2 Group announced that it has, through its subsidiary Fresh2 Technology, signed a definitive Stock Purchase Agreement for the acquisition of Youfood Group, a business-to-customer cross-border e-commerce food platform, which will connect Asian and South American food resources with customers in North America. The acquisition is expected to enhance access to a new customer base. According to the terms of the SPA, Fresh2 has agreed to acquire 100% of the issued and outstanding shares in Youfood in exchange for 38,333,334 newly issued shares of Fresh2 Class A common stock.