Nongshim to Acquire Health Supplement Specialist 'Cheonho N Care'... "Full-Scale New Business Development"

[Asia Economy Reporter Song Seung-yoon] Nongshim is set to acquire Cheonho N Care, a company specializing in health functional foods.

According to industry sources on the 7th, Nongshim was recently included as a qualified preliminary bidder along with other companies in the preliminary bidding for the sale of Cheonho N Care conducted by the private equity firm Kamur Private Equity (PE) and the accounting firm EY Hanyoung. The sale target is 76.8% of Cheonho N Care shares held by Kamur Private Equity (PE). The expected sale price of Cheonho N Care shares is known to be around 60 to 70 billion KRW.

Nongshim has designated health functional foods as a new business area alongside the alternative meat sector and is focusing on its development. This acquisition is seen as part of that strategy, with analyses suggesting that Nongshim is actively expanding its health functional food portfolio to diversify its business. If the acquisition is finalized, it will be the first large-scale merger and acquisition since Nongshim’s founding. It is reported that Nongshim Chairman Shin Dong-won is leading the acquisition effort.

In March 2020, Nongshim launched the health functional food product "Lifil Derma Collagen." This year, the company plans to introduce various products to increase annual sales to the 50 billion KRW level.

A Nongshim official stated, "It is true that we are included as a preliminary bidder for the acquisition of Cheonho N Care," but added, "Other companies are also candidates, and since this is still an ongoing matter, nothing has been finalized yet."

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