South Korea's Hyundai Green Food has pulled out of negotiations to acquire kimchi refrigerator maker WiniaMando.

The company, which operates as a food service company, said in a regulatory filing that the decision to pull out of the talks was taken as it failed to reach a final agreement.

In August, Hyundai agreed to acquire WiniaMando for around KRW150bn ($147.25m) from global private equity firm CVC Capital Partners.

Hyundai Green Food distributes food products, including agricultural, marine, livestock, pretreatment, processed, and sanitary products.

It operates bakeries and cafes under the VEZZLY; food courts under the Chef Avenue; restaurants under the Bonga Sushi and Hansol Naengmyeon; departmental stores under the San-deul-nae-eum; supermarkets under the H mart; and convenience stores under the H24+ brand names, as well as offers catering and buffet services under the Carnival brand name.