Hanwha Hotel to acquire Our Home for approximately 870 billion won (South Korea)

Hanwha Hotels & Resorts (hereinafter referred to as Hanwha) has recently appointed officers to Woorizip F&B, a special purpose corporation (SPC) established to acquire Our Home, a major catering company.
Prior to this, Hanwha held a board meeting and decided to acquire Our Home. It will invest 250 billion won (approximately 26.146 billion yen) in Woorizip F&B through a paid-in capital increase.
The company will acquire a total of 58.62% of the shares held by Workhome's owner family, including the eldest son, former vice president Koo Bon-sun (holding 38.56% of the shares), and the eldest daughter, Chairman Koo Mi-hyun (holding 19.28%).
The acquisition price is 65,000 won (approximately 6,797 million won) per share, totaling 869.4 billion won (approximately 90.92 billion yen).
Hanwha said it plans to raise funds through a combination of its own cash and external borrowings.
Hanwha sold its school catering business in 2020 and withdrew from the market, but will be resuming the business for the first time in about five years.
An industry source said, "Our Home has recently lost some of its presence and momentum in the Korean market due to internal issues.
"Since the acquisition was decided by the company's current owner, Vice President Kim Dong-seong, we expect the company to take an aggressive management stance going forward."