[THE INVESTOR] Global private equity firm Unison Capital has sold its 71.69 percent stake in Gourmet F&B, a Korean food importer, to LF Group, one of the nation's top fashion retailers, according to industry sources on Sept. 5.
LF Food, the group's food business unit, paid 36 billion won (US$31.81 million) to Unison, which acquired the stake in December last year for about 15 billion won.
Gourmet F&B, established in 1998, imports and distributes European fine food materials such as cheese, butter and caviar.
“With the latest deal, we plan to strengthen the competitiveness of our buffet restaurant chain Makino Chaya,” an LF official told The Investor.
LF Group, formerly LG Fashion that was spun off from LG Group in 2007, has recently been expanding its presence in the nation’s burgeoning food and beverage market. This year alone, it acquired wine importer Indulge and Japanese food importer MonoLink.
By Song Seung-hyun (firstname.lastname@example.org)