Lotte CVS (Korea Seven / Lotte Holdings) acquires 100% of Korea Ministop for KRW 313.4bn

SI Consumer & Retail Convenience store franchise

Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.

Deal value: $216m
Stake: 100%
Implied 100%: $216m
Revenue: $745m
Op. income: -$10m
Multiples: PSR 0.3x

Target: Korea Ministop · Convenience store franchise
Buyer: Lotte CVS (Korea Seven / Lotte Holdings) · SI
Seller: Aeon Group (Ministop Co.)
Structure: —
Announced: Jan 21, 2022
Closed: —
Stage: Closed

Target

Korea Ministop, launched in 1990, was the first Korean convenience chain to sell ready-to-eat food and ranked fifth with about 2,600 stores (2,603 in 2020) and 12 distribution centers. It posted 2021 revenue of KRW 1.0795tn and an operating loss of KRW 14.3bn.

Deal rationale

Lotte described the deal as a decision to strengthen distribution competitiveness and create synergies (The Fact). Dailian reported the main aim was securing future growth drivers: obtaining a large store network despite new-store restrictions, cementing a 'big three' structure, boosting quick-commerce capability via Ministop's ~2,600 stores and 12 distribution centers, and combining Seven-Eleven's Food Dream format with Ministop's ready-meal know-how. Seller Aeon reportedly decided to sell after earnings deterioration since 2018.

볼트온

Revenue	$745m
Operating income	-$10m
EBITDA	—
Net income	—

2021 · Multiple reports agree (not yet checked against DART)

Press coverage

데일리안 (2022-01-27): “지분 100%를 3134억원에 인수했다.”
로팩트 (2022-03-22): “한국미니스톱 주식 100%를 3천133억 원에 취득하는 계약을 체결한”
더팩트 (2022-01-21): “취득 금액은 3133억6700만 원이다 … 유통사업 경쟁력 강화 및 시너지 창출을 위한 결정”
데일리안 (2022-01-17): “한국미니스톱 지분 100%의 인수가격으로 3000억원 대를 제시한 것으로 알려졌다”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.