[Public Notice+] Ncitron Acquires Wellib, a Specialized School Meal Service Company

[Asia Economy Reporter Eunmo Koo] NCtron is entering new businesses such as the meal service industry by acquiring Wellive, a company specializing in group catering.

On the 17th, NCtron announced through a public disclosure that it will acquire 300,000 shares of Wellive for 9.6 billion KRW to secure sales and profits through new business ventures. After the acquisition, NCtron holds a 25% stake, making it the largest shareholder of Wellive.

The acquisition payment of 9.6 billion KRW was made in lieu of payment through the issuance of NCtron's 9th convertible bonds (CB). On the same day, NCtron issued CBs worth 9.6 billion KRW to the sellers of Wellive shares: Jung OF&B, MP Hangang, and iSmart&.

Wellive is a company specializing in group catering, with more than 50% of its total sales generated from the meal service business. It operates large-scale meal service projects in various industries, hospitals, and universities, and is engaged in diverse businesses such as rest areas, hotels, facility management corporations, and transportation support. As of the cumulative third quarter of last year, it recorded sales of 115.3 billion KRW, operating profit of 3 billion KRW, and net profit of 2.2 billion KRW.

An NCtron official stated, “Wellive is successfully advancing various new businesses beyond the group catering business, so business synergy with NCtron is expected in the future,” adding, “While enhancing competitiveness in highly profitable business areas, we are also planning various new businesses this year, so we expect to achieve stable sales and operating profits.”

This content was produced with the assistance of AI translation services.