VIG Partners' Winplus to Acquire Hanwha Hotels & Resorts' Food Service Business Unit

Sajo Group (via Oyang and Sajo CPK) Acquires Foodist from VIG Partners

June 28, 2024

Food & Beverage

South Korea’s Sajo Group, through subsidiaries Oyang Corporation and Sajo CPK, acquired a 99.86% stake in Foodist from private equity firm VIG Partners for KRW 252 billion (about USD 181 million). Foodist reported KRW 1.03 trillion in revenue for the year ended Dec 31, 2023; the sale gives VIG Partners roughly a 2x return and strengthens Sajo's position in food materials distribution and catering.

VIG Partners Acquires 85% Stake in Teazen Inc

April 26, 2022

Food & Beverage

South Korean buyout firm VIG Partners has agreed to acquire an 85% stake in Teazen Inc, a tea-based health drinks maker best known for its Tae-ri Kim Kombucha. VIG will purchase 70% from IBK-TS Private Equity Fund and 15% from CEO Jong-tae Kim and related parties for about $70 million, with closing expected in May; VIG plans to install professional management and expand Teazen's customer reach.

Hahn & Co. (via Korean Air Catering) Acquires MyChef

April 11, 2022

Food & Beverage

Seoul-based private equity firm Hahn & Co. (through its 80%-owned unit Korean Air Catering & Duty Free Services Co.) has agreed to buy more than a 95% stake in South Korean meal-kit maker MyChef for about 75 billion won (~$61 million). The bolt-on deal — based on an enterprise value of roughly 100 billion won — is intended to boost Korean Air Catering’s procurement and product-development capabilities, scale MyChef’s automated production, and diversify MyChef’s customer base including inflight catering clients.

Woodlawn Partners Acquires NH Holdings (New Horizon Foods)

October 29, 2021

Food & Beverage

Chicago-based private equity firm Woodlawn Partners acquired NH Holdings (the holding company for New Horizon Foods and Consolidated Management Company) from founder Jim Dyvig on October 29, 2021. NH Holdings, based in Minneapolis, manages contract foodservice programs across senior housing, education, treatment centers and county jails (over 170 customer sites in 15 states); the deal supports founder succession and plans for accelerated growth and operational improvements.

VIG Partners Acquires Homenuri Mart as Add-on to Winplus Portfolio

June 29, 2020

Retail

South Korean private equity firm VIG Partners has acquired supermarket chain Homenuri Mart in a bolt-on deal to its existing portfolio company Winplus. The acquisition aims to create synergies across distribution and retail operations—building on earlier deals including Winplus's takeover of parts of Hanwha Hotels & Resorts' food service business.

Freeman Spogli & Company Acquires Majority Interest in Five Star Food Service

March 28, 2019

Food & Beverage

Freeman Spogli & Company acquired a majority interest in Five Star Food Service, Inc., partnering with Five Star management and other investors. The private equity investment will support Five Star’s growth strategy across the Southeast — including organic expansion and add-on acquisitions — while financing was provided by Ares Capital Corporation and Varagon Capital Partners.