Convenience Store Ministop Listed for Sale Again After 2 Years

[Asia Economy Reporter Minji Lee] Korea Ministop, the 5th largest convenience store chain, has been put up for sale.

According to industry sources on the 30th, the preliminary bid submission for the sale of Korea Ministop has recently closed. Korea Ministop is 100% owned by Japan Ministop.

Ministop has faced several sale rumors amid intensified competition in the convenience store market and poor performance. In 2018, the main bidding process proceeded, but the sale was halted due to disagreements over the sale price.

Currently, the industry views Emart24 as a strong acquisition candidate. As of last year, Ministop had 2,603 stores, and if Emart24 acquires it, the total number of stores would instantly increase to around 8,000. This would narrow the gap significantly with Seven Eleven, the 3rd largest in the industry, which had about 10,500 stores as of last year.