SPC GFS Absorbs Monz Company... "Maximizing Synergy in Food Ingredients"

Integration Among SPC Samlip Affiliates
Diversification of Products and Expansion of Logistics Network

SPC Samlip's food ingredient distribution affiliate SPC GFS announced on the 14th that it will absorb and merge Monz Company. Monz Company is another subsidiary of SPC Samlip.

SPC Samlip disclosed on the 12th that SPC GFS will absorb and merge Monz Company to maximize synergy effects through the integration of distribution sector affiliates. The merger date is set for January 1 of next year.

Monz Company operates the bakery and cafe ingredient distribution online platform 'BakingMon' and was acquired by SPC Samlip in 2021. It has since grown to nearly 100 billion KRW in sales.

SPC GFS plans to expand its B2B food ingredient distribution business by combining the platform business capabilities of both companies to achieve ▲diversification of products sold ▲expansion of nationwide logistics network ▲growth of online distribution ▲operational efficiency. They aim to secure product competitiveness by extending beyond meal service, mart, and dining-out ingredients to bakery and cafe materials, and strengthen online distribution channels using BakingMon.

An SPC GFS representative stated, “Through this merger, we will diversify the B2B business structure based on the distribution business capabilities of each platform and nurture it as a new growth engine driving future business.”

Meanwhile, SPC GFS operates a food distribution business worth approximately 2 trillion KRW annually, supplying ingredients to over 8,300 business sites including more than 200 franchise headquarters, based on a systematic distribution logistics system.