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Hanwha Solutions. (Photo = Hanwha Solutions) |
[Alpha Biz= Kim Jisun] Hanwha Group has decided to proceed with the acquisition of Ourhome.
On February 11, Hanwha Hotels & Resorts held a board meeting and announced that it had signed a stock purchase agreement (SPA) with Ourhome shareholders, including former Vice Chairman Koo Bon-sung, Chairwoman Koo Mi-hyun, and two related parties.
To facilitate the transaction, Hanwha Hotels & Resorts plans to establish a new entity, tentatively named "Woorijib F&B," and invest KRW 250 billion. The acquisition includes approximately 58.62% (13.4 million shares) of Ourhome's shares.
Initially, Hanwha will acquire a 50.62% stake, while the remaining 8.0% held by Koo Bon-sung will be purchased through a third party within an agreed-upon timeframe. The purchase price is set at KRW 65,000 per share, totaling approximately KRW 869.5 billion.
Hanwha Hotels & Resorts will fund KRW 250 billion through its own cash reserves and partial external borrowing, while the remaining acquisition funds will be raised through financial investors (FIs) and acquisition financing.
Reports suggest that Hanwha Vice President Kim Dong-sun, the third son of Hanwha Group Chairman Kim Seung-youn, played a key role in pushing forward the deal. Since joining Hanwha Hotels & Resorts, Kim has been expanding the company’s food and dining business, including the domestic launch of the American burger chain Five Guys. This acquisition is also aimed at securing stable cash flow.
If completed, the acquisition will mark Hanwha’s reentry into the food service and catering business after five years. Hanwha previously exited the sector in 2020 by selling its catering and food distribution subsidiary, Foodist. Hanwha Hotels & Resorts has already established a task force (TF) to oversee post-merger integration (PMI) efforts.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
