GS Retail to acquire Cookat for KRW 55bn
- Deal value
- $38m
- Stake
- —
- Implied 100%
- —
- Revenue
- $30m
- Op. income
- -$7m
- Multiples
- —
2021 별도 · DART-verified
2021 별도 · DART-verified
DART 20220408001645
- Target
- Cookat · Food media and food e-commerce
- Buyer
- GS Retail · SI
- Seller
- —
- Structure
- —
- Announced
- Jan 13, 2022
- Closed
- —
- Stage
- Announced
Target
Cookat, founded in 2014, runs the food media channel 'What to Eat Today' and the private-label food commerce platform Cookat Market, with about 33 million social followers in Korea and abroad and some 220 PB products.
Deal rationale
GS Retail called the deal an opportunity to bring Cookat's roughly 33 million MZ-generation followers to its 16,000 offline stores, citing GS25 x Cookat Market flagship stores, category expansion beyond frozen foods, joint R&D and marketing and GS The Fresh MFC expansion. It invested about KRW 55bn in old and new shares for control, with NH Investment & Securities PE investing about KRW 30bn in new shares as second-largest holder.
| Revenue | $30m |
| Operating income | -$7m |
| EBITDA | — |
| Net income | — |
2021 별도 · DART-verified · 20220408001645
Press coverage
- 헤럴드경제 (2022-01-13): “투자금액은 구주 매수 및 신주 발행 등을 포함해 약 550억원이다.”
- CEO스코어데일리 (2022-01-17): “GS리테일은 쿠캣에 550억원을 투자한다.”
- 딜사이트 (2022-01-13): “GS리테일은 현재 삼자가 신주 발행 규모 등에 대해 논의를 지속하고 있는 점을 들어 주주별 지분율은 밝히지 않았다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.