(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Sangjin] Coupang has entered into negotiations with MBK Partners to acquire Homeplus Express. The plan is to utilize the nationwide network of Homeplus Express as regional logistics centers to implement a 'quick commerce' system that delivers fresh food within an hour.

According to a report by the Seoul Economic Daily on the 11th, Coupang recently received an investment proposal for Homeplus Express from MBK Partners and Morgan Stanley and has begun reviewing the acquisition. Earlier this year, MBK Partners was exploring potential buyers for the entire Homeplus chain. However, interest from Coupang and other buyers in the delivery system strengths of Homeplus Express led MBK to consider selling this business unit separately.

Industry insiders explain that Coupang's recent focus on enhancing profitability by expanding its private brand (PB) product sales channels aligns with this acquisition move. Homeplus has a well-established consumer base, with its membership count exceeding 10 million as of last month through its web, mobile app, and offline stores. Homeplus Express operates 315 stores nationwide, including 235 in the Seoul, Gyeonggi, and Incheon metropolitan areas, making it the largest chain in the domestic Super Supermarket (SSM) sector.

Despite these developments, Coupang has officially declined to comment on the acquisition of Homeplus Express. However, a source familiar with the situation indicated that Coupang sees potential in Homeplus Express's delivery system, suggesting that the negotiations might progress further.

 

 

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