Hanwha Foodtech acquires American robot-powered pizza brand

Industry

Published: 04 Mar. 2024, 18:15 Updated: 04 Mar. 2024, 19:52

Hanwha Foodtech acquires American robot-powered pizza brand

A Stellar Pizza robot makes a pizza. [HANWHA FOODTECH]

Hanwha Foodtech, a subsidiary of Hanwha Hotels & Resorts specializing in food and beverages, acquired a full stake in Stellar Pizza, an American robot pizza brand, for an undisclosed amount.

Hanwha Foodtech Global, the Korean company's U.S. subsidiary, signed a memorandum of understanding with Serve Automation, the operator of Stellar Pizza, for the transfer its assets including some of its management and engineers, in January. The deal was finalized on Feb. 29.

Stellar Pizza is not currently operational. Once completing operational efficiency improvements such as system reorganization, Hanwha Foodtech plans to have the brand up and running and to introduce it to Korea.

Stellar Pizza is known as the world's first fully automated pizza production company, with robots overseeing every step from dough preparation to quality checks. It claims to be capable of crafting a 12-inch pizza in just five minutes. It sells each pizza for 8 to 9 dollars in Los Angeles, which it claims is 40 percent lower than the prices of competitors in the area, citing its increased efficiency and lower labor costs.

Serve Automation was founded by former SpaceX engineers in 2019. Its founder and CEO, Benson Tsai, previously researched and developed rocket and satellite battery systems at the California-based firm.

Hanwha Foodtech is led by Kim Dong-seon, vice president of Hanwha Hotels & Resorts. Kim spearheaded the contract with multiple visits to the United States, the company said.

The cooking process at Stellar Pizza, where all processes are fully automated. [HANWHA FOODTECH]

"[The acquisition] is anticipated to elevate not just Stellar Pizza, but also Hanwha FoodTech's tech prowess aimed at advancing the food industry." Hanwha Foodtech said Monday. "Looking ahead, we intend to spearhead the food tech sector with diverse culinary contents and distinctive technological expertise while also fostering active collaboration with Hanwha Robotics."

"Through our collaboration with Hanwha, Stellar Pizza can take another step forward," said Tsai. "With the addition of foodtech to Hanwha's expertise in the food industry, we aim to provide high-quality pizzas to customers at affordable prices."

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]