Seoyoung ENT Co., Ltd. announced that on February 11th, it signed an acquisition agreement including management rights to bring Playground Company Co., Ltd., an online PB product manufacturing startup, under its subsidiary.
Playground Company Co., Ltd. is a specialized company in customized product development and supply, providing optimized one-stop publishing services for food tech companies, including design, branding, and manufacturing of partner companies' PB, OEM, and ODM products.
Since its establishment in 2017, it has collaborated with over 50 partners, including Coupang's subsidiary 'Coupang CPLB,' and has conducted more than 450 product development and collaboration projects.
Playground Company Co., Ltd. has maintained continuous growth, achieving approximately 10 billion KRW in annual sales in 2021, representing about a 138% increase compared to 2019. In particular, since 2020, it has established its own manufacturing company and operates various processed food lines such as the solid-type composite seasoning product 'Coin Yuksu,' 'Konjac Jelly,' and 'Pomegranate Collagen.' It is also expanding into health functional food manufacturing, earning recognition as a promising startup in the food manufacturing industry.
Through this acquisition of Playground Company Co., Ltd., Seoyoung ENT Co., Ltd. expects to enter the high-growth PB product market and create synergy with its existing business areas by developing and manufacturing various products that meet market trends and consumer needs.
Huh Jae-kyun, CEO of Seoyoung ENT Co., Ltd., stated, "We decided to partner with Playground Company Co., Ltd., which has strengths in online channel PB products, to expand our offline distribution-centered business portfolio and discover new growth engines in digital channels." He added, "We will continue to invest and discover new growth engines, integrating unique technology and branding from manufacturing to distribution to become a comprehensive food company leading a new food tech culture."
Seoyoung ENT Co., Ltd. has operated its business based on manufacturing draft beer equipment. To diversify its business, it established a new business division in 2012 and signed exclusive import contracts with the Italian premium food brand 'OliTalia' in 2013 and the global confectionery company Mondelez International in 2019. Following 2020, it surpassed 100 billion KRW in annual sales again in 2021, solidifying its position as a comprehensive food company.
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