Lotte Signs Acquisition Agreement with Korea Ministop "Strengthening Capabilities through Online-Offline Integration"

Ministop Secures Over 2,600 Stores and 12 Logistics Centers
"Will Strengthen Online Business Capabilities Using Online-Offline Convergence Strategy"

[Asia Economy Reporter Yuri Kim] Lotte Holdings announced on the 21st that it has signed a Stock Purchase Agreement (SPA) to acquire 100% of the shares of Korea Ministop. The acquisition amount is reported to be around 310 billion KRW.

Through this acquisition, Lotte plans to secure Ministop's approximately 2,600 stores and 12 logistics centers in the distribution market, where quick commerce competition targeting nearby commercial districts centered on convenience stores is intensifying, thereby expanding its closest customer contact points within a short period.

Ministop was the first convenience store in Korea to start selling ready-to-eat food and introduced a fast-food specialty brand focused on delivery and takeout, leading the food culture in the convenience store industry. Its strengths include excellent locations secured early in the market and larger store areas compared to competitors. Lotte stated, "We expect to actively utilize the space to enhance customer convenience through electric motorcycle charging, financial services, home appliance care, and laundry services."

Lotte added, "We will actively utilize convenience stores, which have established themselves as lifestyle platforms providing various daily life services to customers, in an online-offline convergence strategy. Through this, we also plan to strengthen our online business capabilities."