Woongjin (WJ Life SPC) acquires 99.77% of PreedLife for KRW 887.9bn
- Deal value
- $612m
- Stake
- 99.77%
- Implied 100%
- $614m
- Revenue
- $191m
- Op. income
- $68m
- Multiples
- EQV/EBIT 9.0xPSR 3.2x
Deal value ÷ stake (structure unconfirmed)
2024 연결 · DART-verified
2024 연결 · DART-verified
On implied equity value
DART 20250404001964
- Target
- PreedLife · Prepaid funeral services
- Buyer
- Woongjin (WJ Life SPC) · SI
- Seller
- VIG Partners
- Structure
- —
- Announced
- Apr 29, 2025
- Closed
- Jun 13, 2025
- Stage
- Closed
Target
Reported as Korea's No. 1 prepaid funeral-services (sangjo) company, with prepaid deposits of KRW 2.56tn at end-2024; reported to have grown by acquiring and merging several mid-sized funeral-service operators after VIG Partners' acquisition.
Deal rationale
Woongjin said it aimed to build a total life-care platform linking PreedLife with its education, IT, leisure, beauty and healthcare affiliates and to combine sales networks with Woongjin Thinkbig, funding the deal with perpetual bonds and acquisition financing rather than a rights issue. Seller VIG Partners was reported to have bought the company in 2020 through its Fund IV for about KRW 260bn, sold 10% to Mastern Partners in 2021 and 20% to KKR in 2024, and agreed the sale at KRW 887.9bn after initially seeking KRW 1tn.
| Revenue | $191m |
| Operating income | $68m |
| EBITDA | — |
| Net income | — |
2024 연결 · DART-verified · 20250404001964
Press coverage
- 뉴스토마토 (2025-04-29): “웅진, 8830억에 상조 1위 프리드라이프 인수”
- 딜사이트 (2025-05-30): “웅진은 프리드라이프 인수를 내달 13일로 변경했다고 30일 밝혔다.”
- 뉴스토마토 (2025-06-16): “웅진은 이번 인수를 통해 프리드라이프의 지분 99.77%를 확보했습니다.”
- 뉴데일리 (2025-04-30): “VIG는 당초 1조원을 매각 희망가로 제시했으나 최종 협상에서 조율”
- 한국경제 (2025-04-10): “정보기술(IT), 레저 등 기존 계열사와 상조업이 시너지를 낼 수 있다고 보고 있다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.