Shinsegae Food to Sell Food Service Division for 120 Billion Won
Shinsegae Food has decided to transfer its food service division to Hanwha Group's Gourmet Galleria.
On August 28, Shinsegae Food announced that it had signed a contract to transfer its food service division to Gourmet Galleria. Gourmet Galleria is a subsidiary of Ourhome, which has been incorporated into Hanwha Group.
The company will transfer 100% of its group catering business for industrial sites and offices, with the transaction amount set at 120 billion won. Shinsegae Food plans to hold an extraordinary general meeting of shareholders on October 15 to proceed with the approval process for the business transfer.
This transaction is part of a strategic business restructuring to strengthen the competitiveness of both Shinsegae Food and Hanwha Group's Gourmet Galleria.
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A Shinsegae Food representative stated, "Going forward, we plan to focus our capabilities on areas where we can excel, centering on our core businesses such as bakery, franchise burgers, and food material distribution, and continue to pursue growth and enhanced competitiveness through a 'selection and concentration' strategy."
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