Lotte Wellfood to sell bread manufacturing facility, invest in growth business (Korea)

According to the investment banking industry, Lotte Wellfood (formerly Lotte Confectionery) has decided to separate and sell the production line and logistics division of its bread business, which was operating under the "Kirin" brand.
The bread manufacturing plants in Suwon, Busan, and Jeungpyeong are being sold at a price of around 10 billion yen.
0 billion to 120 billion won (approximately 10.77234 billion to 12.9268 billion yen). These factories supply bread to convenience stores, large supermarkets, and school lunch providers.
The company was established in 2022 through the business integration of Lotte Confectionery and Lotte Food, but some of the production facilities are being sold or integrated as they are redundant or no longer necessary.
In addition, some production lines for meat processing and ice cream businesses are also overlapping. The company plans to use the funds secured through the sale to invest in next-generation businesses.
The company will invest ¥910.73 million to expand its Cheonan frozen dessert factory. In addition, Lotte Wellfood India, the company's Indian subsidiary, is planning to acquire a company locally, and is in a similar situation to emergency management.
At times, we are also expanding marketable businesses.