Buys a Controlling 53% Stake for 310 Bil. Won
South Korean private equity firm Hahn & Co. announced on May 27 that it has signed definitive agreements to acquire a controlling 53 percent stake in Namyang Dairy Products for about 310 billion won.
Hahn & Co. acquired all shares owned by former chairman Hong Won-sik and his family.
Namyang Dairy Products is one of Korea’s largest dairy and beverage producers, with revenues of 948 billion won (US$848 million) in 2020. The company is listed on the Korea Stock Exchange.
The acquisition furthers Hahn & Co.’s focus on private equity investments in Korea and builds upon its track record of successfully revamping Korean companies across several industries. Hahn & Co. has acquired and successfully built Korea’s leading companies in consumer goods, industrial products, transportation and logistics. The acquisition represents Hahn & Co.’s third acquisition in Korea since the COVID-19 pandemic. It recently acquired the biodiesel business of SK Chemicals as well as the in-flight catering and duty free retail business of Korean Air.
“This marks our continued belief in the attractiveness of the Korea market despite headwinds presented by the current pandemic. Namyang is a franchise consumer brand in Korea with compelling opportunities to further expand and strengthen its brand,” said Scott Sang-Won Hahn, CEO of Hahn & Co.
Established in 2010, Hahn & Co. is one of the largest private equity firms operating in Korea. The firm currently manages the largest private equity capital raised to date for the Korea market. Companies controlled by Hahn & Co. generate revenues of approximately 13.3 trillion won (US$11.9 billion) and have assets of 24.2 trillion won (US$21.6 billion) with over 30,000 employees on the payroll.