MBK to Separate and Sell 'Homeplus Express'

MBK Partners has begun the process of selling Homeplus Express, the corporate supermarket (SSM) business division of Homeplus.

According to the financial investment industry on the 3rd, MBK Partners recently selected Morgan Stanley as the lead advisor for the sale and has started the sale process for Homeplus Express.

Morgan Stanley is expected to contact about 10 potential candidates, including domestic and international retail companies and e-commerce platforms, within this month.

Homeplus Express recorded sales of 1.2 trillion KRW last year, with an EBITDA margin of 8%.

It operates 413 stores nationwide, with 235 stores located in Seoul and the metropolitan area.

In particular, the 'instant delivery' (quick commerce) service introduced three years ago has shown an average annual sales growth rate of 84% over the past two years. The average transaction amount per customer is in the mid-40,000 KRW range.

An industry insider said, "Other domestic retail companies are all subsidiaries of large corporations, so there are limited opportunities for them to appear as assets in the M&A market," adding, "Homeplus Express is expected to attract market interest as an omni-channel integrating online and offline distribution."

An MBK representative explained, "This is a rare asset in the M&A industry, which has seen steady interest from various investment banks (IBs) over time."

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