Woojin B&G, Subsidiary 'OSP' Secures 3 Billion KRW Investment

[Asia Economy Reporter Eunmo Koo] OSP, a subsidiary of Woojin B&G, announced on the 7th that it has secured a total investment of 3 billion KRW from AJU IB Investment, Hana Ventures, and Korea Investment Partners.

Based on this investment, OSP is expected to accelerate its initial public offering (IPO) for listing on the KOSDAQ market in the second half of next year. The company has been preparing for the listing, including selecting Daishin Securities and SK Securities as lead underwriters in June. If successful, it will be the first case of a pet food company going public. Through this investment, OSP aims to enhance its technology and expertise as a premium pet food company.

A Woojin B&G official stated, “OSP has succeeded in attracting investment by being recognized for its future growth value this year as well as last year. We will smoothly complete the KOSDAQ listing next year and accelerate growth by actively targeting the global market.”

OSP is rapidly growing as a specialized organic pet food company. It has been recognized for its technology by obtaining HACCP (Hazard Analysis and Critical Control Points) and USDA-NOP (United States Department of Agriculture National Organic Program) certifications, and is actively trading with major domestic feed companies.

The performance growth is also remarkable. OSP recorded sales of 15 billion KRW last year, a 23% increase compared to 2018, and operating profit and net profit rose more than 100% to 2.9 billion KRW and 2.2 billion KRW, respectively. This year, in the first half alone, it achieved sales of 7.8 billion KRW, operating profit of 2 billion KRW, and net profit of 1.7 billion KRW.

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