[Alpha Biz= Reporter Kim Jisun] Private equity firm VIG Partners announced on the 24th that it has signed a stock purchase agreement to sell its 99.86% management stake in Foodist to Sajo Group through the VIG Fund III.

VIG Partners acquired Winplus, a food distribution company, in March 2018 and merged it with the food distribution and group catering business unit of Hanwha Hotels & Resorts in February 2020 to form the current Foodist.

Despite the overall economic downturn due to the COVID-19 pandemic, Foodist achieved an average annual sales growth rate of about 19% since the merger in 2020, reaching sales of 1.029 trillion won last year.

The total transaction amount for this sale is approximately 250 billion won. Once the transaction is completed in August, VIG Partners expects to recover more than twice its initial investment through dividends and refinancing.

 

 

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