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

(Reuters) -Costco Wholesale Corp said on Thursday it bought the 45% stake it did not already own in its Taiwan joint venture, Costco-Taiwan, for $1.05 billion.

The deal, executed through a unit, is expected to add to the company’s earnings per share by 1% to 1-1/2%, Costco said in a statement.

The membership-only retailer operates 833 warehouses globally, including 14 in Taiwan. It also runs e-commerce sites in the island.

The purchase comes at a time when Costco’s margins are being squeezed by higher costs arising from supply chain disruptions and the impact of the Russia-Ukraine war.

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