Hanwha Galleria Corp. to Acquire Pure Plus Co. for $15 Million: Diversifying into Food and Beverage Market
Hanwha Galleria Corp., a prominent South Korean department store operator, is making waves in the food and beverage market with its recent acquisition of Pure Plus Co., a domestic non-alcoholic beverage company. The deal, valued at approximately 20 billion won ($15 million), is set to diversify Hanwha Galleria’s portfolio and open up new opportunities for growth.
Pure Plus, founded in 1986, is known for its organic and healthy drinks, including fruit and vegetable juices and coffee. The company supplies its products to major retailers such as Costco and HomePlus, as well as producing drinks for other brands as an original equipment manufacturer. With a strong presence in the market, Pure Plus saw its operating profit quadruple in 2023, showcasing its potential for further expansion.
The acquisition of Pure Plus will not only enhance Hanwha Galleria’s presence in the food and beverage sector but also align with its strategic goals of diversification. The department store operator, a unit of the Hanwha Group, is looking to expand its reach beyond its core business and explore new opportunities for growth. With plans for additional mergers and acquisitions in the pipeline, Hanwha Galleria is poised for further expansion and success in the market.
This move comes on the heels of Hanwha Galleria’s establishment of a wine business subsidiary and exclusive domestic sales rights to Five Guys, a popular US burger chain. With a strong focus on innovation and growth, Hanwha Galleria is positioning itself as a key player in the retail and leisure industry under the leadership of Kim Dong-seon, the youngest son of Hanwha Group Chairman Kim Seung-yeon.
As Hanwha Galleria continues to make strategic moves in the market, the acquisition of Pure Plus marks a significant step towards achieving its goals of diversification and expansion. With a strong foundation in place and a clear vision for the future, Hanwha Galleria is set to make a lasting impact in the food and beverage industry.