Freasheasy has acquired Heodak and Line Logistics System to strengthen its position in South Korea's expanding meal kit market.
Target Information
Freasheasy, a prominent player in South Korea's meal kit market, has recently made strategic acquisitions to enhance its competitive edge. The company successfully acquired a meal package manufacturer specializing in chicken-based products and a logistics firm focused on cold chain delivery services. These acquisitions aim to solidify Freasheasy's position in the rapidly expanding sector of home meal replacement products, which are prepared meals requiring minimal cooking efforts.
The strategic move involves a stake exchange between Freasheasy, Heodak, and Line Logistics System. Heodak is increasingly favored by young fitness enthusiasts, particularly for its chicken breast fillet-focused meal offerings. Meanwhile, Line Logistics employs a nationwide cold chain infrastructure, servicing approximately 12,000 restaurants and stores, essential for delivering fresh products while maintaining the required temperature.
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Industry Overview
South Korea's meal kit industry has experienced substantial growth, valued at around five trillion won (approximately $4.1 billion) in 2020. This growth has been driven by evolving consumer preferences towards convenient meal so
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