Gourmet Galleria, a 100% subsidiary of OURHOME, said on the 1st that it had completed the process to acquire the catering business unit of Shinsegae Food. This follows the business transfer agreement signed on Aug. 28, and OURHOME has been pursuing the acquisition of Shinsegae Food since the first half of this year to strengthen its business competitiveness.
OURHOME expects that with the establishment of Gourmet Galleria through this merger and acquisition (M&A), a premium catering and F&B (food and beverage) service business with annual sales of 275 billion won will be incorporated, expanding the overall food and beverage business institutional sector by about 30%.
Gourmet Galleria plans to raise the catering institutional sector to 360 billion won in sales and 20 billion won in operating profit by 2030. It said it will actively pioneer new markets by adding high value-added channels such as premium offices, residential complexes, and conventions to its existing portfolio centered on offices and industrial sites.
The head of Gourmet Galleria will be Chief Executive Cha Gi-pal. Cha has produced strong results in premium dining and lifestyle F&B after serving as head of the dining-out division and head of the design headquarters at OURHOME.
An OURHOME official said, "We expect the operational, manufacturing, distribution, and future technology capabilities of OURHOME and its group affiliates, combined with Gourmet Galleria's competitiveness in the premium market, to create significant synergy going forward," adding, "We will become Korea's No. 1 comprehensive food company through competitive advantage and continuous innovation."