South Korea’s largest snack manufacturer, Seoul-based Lotte Confectionery, has established a new foothold in its efforts to expand globally, signing off on an agreement to acquire Sint-Niklaas, Belgium-based Guylian for 105 million euros ($164 million). Sang-Hoo Kim, president of Lotte Confectionery, said the company was “very enthusiastic about our future partnership with Guylian.” The pending acquisition marks “our entry into the European premium chocolate market and is an important milestone in Lotte’s development as a truly global group.” The company will set up an investment company in the Netherlands with its affilitate Lotte Co. of Japan to purchase the company outright from its owner, Dominique Foubert and two other family shareholders.