"Purely for Financial Investment Purposes"
Shinsegae Food will invest 50 billion won in C&C International, a company specializing in color cosmetics original development manufacturing (ODM).
According to a disclosure filed with the Financial Supervisory Service on October 2, Shinsegae Food plans to acquire a 36.9% stake in the Beauty Synergy 2025 private equity investment managed by Ascent Equity Partners (EP), a private equity fund (PEF) operator, on October 15. This will be done through an indirect investment method by acquiring a 36.9% stake in the private equity investment.
The investment funds will be sourced from Shinsegae Food's own capital. It has been reported that this is unrelated to the funds for the ongoing acquisition and transfer of the food service division. According to the Financial Supervisory Service, as of the end of the second quarter prior to the food service division transfer contract, Shinsegae Food held approximately 120 billion won in cash and cash equivalents.
Shinsegae Food stated that this is a purely financial investment, not for the purpose of securing shares in or participating in the management of C&C International, and that the goal is to secure stable investment returns.
A representative from Shinsegae Food explained, "While we are focusing on strengthening our core competitiveness in our main businesses, such as the bakery B2B business and the FC burger business, we decided on this investment to enhance financial efficiency and build a foundation for investment returns."
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