Where is 'Jeongnyeon-i Hoppang' going... Lotte Wellfood Plans to Sell Bakery Business

Production Overlap Issues After Lotte Confectionery and Food Merger
Sale Price Estimated at Around 100 Billion KRW... Plans for Future Business Investment

Lotte Wellfood is planning to sell its bakery business.

According to industry sources on the 20th, Lotte Wellfood has distributed investment brochures for the sale of its bakery business to major companies. KB Securities has been selected as the advisory firm for the sale.

The drama 'Jeongneoni' collaborated with Lotte Wellfood to release 'Jeongneoni Hobbang'. tvN drama 'Jeongneoni'

The sale targets production facilities in the bakery sector, including the Suwon factory, Busan factory, and Jeungpyeong factory. Lotte Wellfood distributes bread nationwide to convenience stores under the 'KIRIN' brand. The desired sale price is reported to be in the range of 100 billion KRW.

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Lotte Wellfood was launched in 2022 following the merger of Lotte Confectionery and Lotte Food. Since then, issues regarding overlapping production facilities have been raised, leading to plans to sell the Jeungpyeong factory. However, after a deal with Silla Myungga fell through in July last year, the company is said to be considering selling the entire bakery business.

Lotte Wellfood plans to invest in future businesses through the sale of its bakery business. By next year, it will spend 222 billion KRW to expand its ice cream factory in Cheonan. A Lotte Wellfood representative stated, "We are reviewing various options regarding the sale of the bakery business," but added, "Nothing has been finalized yet."

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