Fresh지, the No.1 Meal Kit Brand, Acquires No.2 TastyNine

KRW 100 Billion Scale Merger and Acquisition Deal

[Asia Economy Reporter Eunmo Koo] Fresh Easy, the number one meal kit (easy-to-cook meal) company, is acquiring Tasty Nine, the second-ranked company.

Fresh Easy announced on the 26th that it has signed a 100 billion KRW scale merger and acquisition (M&A) contract with Tasty Nine. After the M&A, the existing CEO Hong Ju-yeol's leadership will be maintained, and CEO Hong will participate as a co-CEO of Fresh Easy in major decision-making.

Fresh Easy has recently been strengthening strategic M&As. This is the fourth M&A following the health and special diet company 'Dr. Kitchen' in November last year, the ready meal company 'Heodak' this year, and the logistics company 'Line Logistics System.'

Fresh Easy explained, "By combining Tasty Nine's ready meal brand planning capabilities and production infrastructure, we have strengthened our B2C (business-to-consumer) competitiveness and secured B2B (business-to-business) publishing capabilities that enable everything from small to large-scale production by utilizing Tasty Nine's production facilities."

They added, "We will also strengthen offline business with Tasty Nine and expand sales channels to sell ready meals directly to consumers without intermediate distribution processes."

Fresh Easy introduced that it is currently conducting a new business called 'Beyond Retail,' which plans and directly supplies ready meals suitable for spaces where people gather, such as gyms and PC rooms.

Jung Jung-kyo and Park Jae-yeon, co-CEOs of Fresh Easy, said, "This M&A is significant as it is a merger of the first and second leading companies in the spotlighted meal kit market," adding, "Through the alliance between the first and second companies, we will establish a dominant position in the ready meal market and lead innovation in the food industry."