Costco buys remaining stake in Taiwan joint venture for $1.05 billion

(Reuters) -Costco Wholesale Corp mentioned on Thursday it purchased the 45% stake it didn’t already personal in its Taiwan three way partnership, Costco-Taiwan, for $1.05 billion.

The deal, executed via a unit, is predicted so as to add to the corporate’s earnings per share by 1% to 1-1/2%, Costco mentioned in a press release.

The membership-only retailer operates 833 warehouses globally, together with 14 in Taiwan. It additionally runs e-commerce websites within the island.

The acquisition comes at a time when Costco’s margins are being squeezed by increased prices arising from provide chain disruptions and the impression of the Russia-Ukraine conflict.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Enhancing by Aditya Soni)