IMM Private Equity / GS Retail acquires 95% of Pet Friends
Not yet reviewed: summarised from filings and press reports; figures may differ between reports. Please check the original sources.
- Deal value
- —
- Stake
- 95%
- Implied 100%
- —
- Revenue
- $22m
- Op. income
- —
- Multiples
- —
2020 · Single report, unverified
2020 · Single report, unverified
- Target
- Pet Friends · Pet specialty e-commerce
- Buyer
- IMM Private Equity / GS Retail · FI
- Seller
- CEO Kim Chang-won and VC investors
- Structure
- —
- Announced
- Jul 21, 2021
- Closed
- —
- Stage
- Closed
Target
Pet Friends is Korea's leading pet specialty e-commerce platform offering same-day and dawn delivery, a 24-hour expert customer center, private-label products and AI product recommendations. Its 2020 revenue was reported at KRW 31.4bn, up 168%.
Deal rationale
GS Retail said the investment strengthens its pet category and secures the pet business as a future growth driver, with new-business head Lee Sung-hwa aiming to grow Pet Friends into a pet lifestyle platform (Aju, iNews24). GS Retail first invested in July 2017 and made three follow-on rounds before co-acquiring with IMM PE, buying out CEO Kim Chang-won and VC investors. Hankyung Business reported a valuation of about KRW 150bn and large growth funding. No official IMM PE rationale was reported.
| Revenue | $22m |
| Operating income | — |
| EBITDA | — |
| Net income | -$5m |
2020 · Single report, unverified (not yet checked against DART)
Press coverage
- 아주경제 (2021-07-21): “IMM PE와 공동으로 펫프렌즈 지분 95%를 인수한다고 밝혔다”
- 아이뉴스24 (2021-07-21): “GS리테일은 펫프렌즈 지분 30%를 취득한다.”
- 딜사이트 (2021-07-26): “펫프렌즈 지분율은 IMM PE 65%, GS리테일 30%, 김창원 펫프렌즈 대표 5% 순이다”
- 한경비즈니스 (2022-01-25): “약 1500억원의 기업 가치를 인정받으며 사모펀드 IMM프라이빗에쿼티(PE)와 GS리테일에 공동으로 인수돼”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.