Hanwha Completes 870 Billion Won Acquisition of Ourhome... Returns to Catering Market After 5 Years

Acquisition of 58.62% Stake Completed
Officially Incorporated as a Hanwha Affiliate
Synergy Expected in Food Tech and More

Hanwha Group has completed the acquisition of Ourhome, the second-largest food service company in South Korea, marking its return to the group catering market after five years.

On May 15, Hanwha Hotels and Resorts, a Hanwha Group service affiliate, announced that it had completed payment for the acquisition of shares in Ourhome and finalized the contract. Hanwha has secured a 58.62% stake in Ourhome, with the total amount spent on acquiring the shares reaching 869.5 billion won.

Previously, in February, Hanwha Hotels and Resorts established a special purpose company (SPC) named Woorijip F&B, and last month, it received approval for the business combination from domestic and international government agencies. With the acquisition process now complete, Ourhome has officially become a Hanwha affiliate.

Dongseon Kim, Vice President of Future Vision at Hanwha Galleria and Hanwha Hotels and Resorts. Photo by Hanwha Galleria

This marks Hanwha's re-entry into the group catering market for the first time in five years since 2020. At that time, Hanwha Hotels and Resorts sold its food distribution and group catering division (now Foodist) to the domestic private equity fund VIG Partners for 100 billion won, exiting the market. Last year, Ourhome recorded sales of 2.244 trillion won, surpassing 2 trillion won in annual revenue for the first time since its founding. This achievement was driven by a range of businesses, including group catering, food material distribution, concession (food and beverage contract operation), and home meal replacement (HRM). A representative from Hanwha Hotels and Resorts stated, "With Hanwha Hotels and Resorts and Ourhome, both of which have achieved various successes in the leisure and food and beverage sectors over a long period, now becoming one family, we expect the competitiveness of both companies to be further strengthened."

This acquisition was led by Kim Dongseon, Executive Vice President of Future Vision at Hanwha Galleria and Hanwha Hotels and Resorts, who is the third son of Hanwha Chairman. Kim has focused mainly on new businesses, including distribution, dining, hotels, leisure, and robotics. He has also shown particular interest in the food tech sector, which is estimated to be worth 450 trillion won globally. In February last year, he changed the name of Hanwha Hotels and Resorts' dining subsidiary The Tastable to Hanwha Foodtech. The company expects that, with the acquisition of Ourhome, the development of food tech and kitchen automation will accelerate.

A representative from Hanwha Hotels and Resorts stated, "Together with Ourhome, which has shown outstanding performance in the catering and food material distribution sectors, we will lead significant changes not only in the domestic but also in the global food market," adding, "Now that Ourhome has joined the Hanwha family, we plan to pursue various collaborations with other affiliates within the group."