Acquisitions in Seoul, South Korea

Digital Turbine has acquired ONE Store International, the global-expansion subsidiary of South Korea's ONE Store, to bring ONE Store's alternative app marketplace to North America, the EU, and LATAM. The deal expands a prior strategic partnership (including an earlier equity stake) and aims to combine Digital Turbine's device footprint and SingleTap technology with ONE Store's marketplace to grow app distribution and developer monetization globally.

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.

South Korean private equity firm Hahn & Co. has completed the acquisition of SKC Ltd.'s industrial polyester (PET) film business for 1.6 trillion won (about $1.2 billion). The divestiture reflects SK Group's shift toward eco-friendly businesses while Hahn & Co. aims to expand the unit's presence in electronics, semiconductors and automotive end markets and raise its global market share.

Mastern Partners, the private equity unit of Mastern Investment Management, has purchased a 10% stake in South Korea's largest funeral services provider Preedlife for about 50 billion won. The minority stake sale to Mastern, together with a recently completed 150 billion won recapitalization, will help diversify Preedlife's investment portfolio into alternative assets and allow VIG Partners to return capital to its limited partners.