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View of Ourhome Magok headquarters. (Photo = Ourhome) |
[Alpha Biz= Paul Lee] Hanwha Hotel & Resort announced on May 15 that it has completed the payment for the acquisition of a 58.62% stake in Ourhome, finalizing the transaction.
The total amount invested in the share acquisition was approximately KRW 869.5 billion. Since initiating the deal last October under the leadership of Kim Dong-sun, Executive Vice President of Future Vision at Hanwha Hotel & Resort, the company conducted thorough due diligence and completed the acquisition in about seven months. Ourhome is now officially a subsidiary of Hanwha.
Hanwha Hotel & Resort established a special purpose company, Wooreojib F&B, in February this year and received corporate merger approval from domestic and international regulatory authorities last month.
Ourhome reported sales of KRW 2.244 trillion last year, marking the first time its annual revenue surpassed the KRW 2 trillion mark since its founding.
Hanwha Hotel & Resort is focused on targeting the leisure market centered around its nationwide hotel and resort operations. While it recently exited the catering business after nearly 30 years, the company’s experience in food service and its subsidiary Hanwha Foodtech’s ongoing operations in dining and banquet services are expected to create significant synergies with Ourhome.
Additionally, the acquisition is anticipated to accelerate the development of kitchen automation through ‘foodtech,’ a key trend in the future food and beverage market.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
