Chorokmaeul and Jeongyukgak Select Samil PwC as Lead Manager for M&A

Lead Manager Authorized by Court-Appointed Administrator
"We Will Create a New Leap Forward That Everyone Can Trust"

On September 11, Chorokmaeul and Jeongyukgak announced that they have selected Samil PwC as the official lead manager for the sale process prior to the approval of their rehabilitation procedures and merger and acquisition (M&A) process.

This selection was confirmed earlier that day with the approval of the Seoul Bankruptcy Court. Samil PwC is the only officially authorized lead manager, having received formal approval through the court-appointed administrator.

Moving forward, Chorokmaeul and Jeongyukgak plan to complete the acquisition process in principle within six months, with Samil PwC leading investor recruitment, due diligence, and negotiations on terms. All procedures will be conducted transparently and fairly under the supervision of the court, with the protection of stakeholders and the preservation of corporate value as the top priorities.

A representative from Chorokmaeul emphasized, "The selection of the lead manager is an official process managed and supervised by the court," adding, "We will minimize stakeholder losses and preserve corporate value through a transparent and fair acquisition process."

Meanwhile, Jeongyukgak resumed operations on September 10. As an online service-based brand, Jeongyukgak has cultivated a loyal customer base focused on livestock products and operates its own last-mile logistics network, 'Jeongyukgak Runs.'

A representative from Jeongyukgak stated, "Since our first sale in 2016, we have grown thanks to the support of 1.3 million customers over the past ten years. Resuming operations is our first step in repaying our customers' loyalty. Starting with ultra-fresh pork belly and shoulder cuts, we will gradually expand our delivery and product lineup to provide even better service."

Chorokmaeul and Jeongyukgak added, "With a swift and stable acquisition process under court supervision, we will do our utmost to achieve early normalization and secure a foundation for growth. Through transparent procedures and responsible management, we aim to create a recovery and new leap forward that all stakeholders can trust."

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