Hanwha Group acquires food services company Ourhome for $620 million

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Hanwha Group acquires food services company Ourhome for $620 million

Published: 15 May. 2025, 11:22 Updated: 16 May. 2025, 12:47

Audio report: written by reporters, read by AI

Ourhome headquarters in Gangseo District, western Seoul [YONHAP]

Hanwha Group finalized its acquisition of Ourhome, a major food services company with annual sales exceeding 2 trillion won ($1.43 billion), the conglomerate announced Thursday.

Hanwha Hotels & Resorts confirmed that it had completed the payment for its 58.62 percent stake in Ourhome, officially closing the transaction. The acquisition cost totaled 869.5 billion won, or $620 million.

This marks the culmination of a process initiated in October last year, led by Kim Dong-sun, executive vice president of Hanwha Hotels & Resorts and head of future strategy. With the deal finalized, Ourhome now becomes an official subsidiary of Hanwha Group.

In February, Hanwha Hotels established a special-purpose company, Woorijib F&B, to facilitate the acquisition. Regulatory approval for the merger was secured from both domestic and international authorities in April.

Ourhome posted annual revenue of 2.244 trillion won in 2024, surpassing the 2 trillion won threshold for the first time since its founding.

“Together with Ourhome, a leader in catering and food distribution, we aim to drive transformation in both the domestic and global food markets,” a Hanwha Hotels spokesperson said. “Ourhome, now part of the Hanwha family, will actively pursue collaboration with other affiliates within the group.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY KIM JI-HYE [[email protected]]