© Copyright Acquisition International 2026 - All Rights Reserved.

Article Image - Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market
Posted 25th June 2015

Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market

Early reports indicate Orion Confectionery, MBK Partners and The Carlyle Group all vying to buy into Tesco’s South Korean venture Homeplus.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Tesco to Sell South Korean Subsidiary Following Expansion into Virtual Market
Image

Early reports indicate Orion Confectionery, MBK Partners and The Carlyle Group all vying to buy into Tesco’s South Korean venture Homeplus.

Tesco PLC, the British based retail giant, is selling shares in their South Korean arm, Homeplus. Early reports from The Korea Economic Daily indicate a flurry of interest, with a variety of firms such as popular snack producers Orion Confectionery, American investment group Goldman Sachs and the Asian private equity firm MBK partners all being mentioned in the negotiations.

Other names offered by the newspaper are The Carlyle Group, a global asset management group, Affinity Equity Partners, CVC Capital Partners and TPG Capital. Tesco is understood to have enlisted HSBC, the British banking firm, to underwrite the sale.

 Homeplus is a popular South Korean supermarket chain currently owned 100% by Tesco PLC which The Korea Economic Daily describes as ‘Korea’s No. 2 discount retailer’. Tesco originally entered the South Korean market in 1999 in conjunction with Samsung.

In February 2012 Tesco PLC announced in a statement that they were expanding Homeplus’s online services by adding to the number of ‘virtual stores’ situated at bus stops across South Korea, designed to allow busy commuters the chance to purchase their shopping on the move using an app on their smartphones. Their flagship ‘virtual store’ which opened in Seoul in 2011 won the prestigious ‘Business Innovation of the Year’ award in 2012 with judges for the award describing the stores as ‘outstanding’.

‘Using the virtual display, people can scan the relevant barcode or QR code with their Homeplus App to order different products and can even organize for home delivery that day. Tesco Homeplus’ Smartphone App, which customers need in order to shop at the virtual store, is now the number 1 shopping App in Korea, with over 900,000 downloads since it launched in April last year.’

 

 

Categories: Finance, Legal, M&A


You Might Also Like
Read Full PostRead - Eye Icon
Putting People First
Legal
03/08/2022Putting People First

The UK offers many exciting opportunities to those who are looking to do good business, but finding an immigration solution that suits your specific needs is by no means simple.

Read Full PostRead - Eye Icon
Strategic Cleaning: Enhancing Health, Morale, And Profits
Corporate Social Responsibility
30/08/2023Strategic Cleaning: Enhancing Health, Morale, And Profits

As a business owner, you want your company to succeed in every aspect, and one often overlooked area is the cleanliness of your workspace. A clean office serves as a reflection of your company's values and professionalism.

Read Full PostRead - Eye Icon
Enhancing Workplace Efficiency and Security with Smart Lockers
News
22/08/2023Enhancing Workplace Efficiency and Security with Smart Lockers

In today’s rapidly evolving workplace landscape, the integration of technology has revolutionized various aspects of business operations. One such innovation that has gained remarkable prominence is the utilization of smart lockers. These intelligent sto

Read Full PostRead - Eye Icon
Remarkable Catering Services Sure to Leave a Lasting Impression
News
23/01/2024Remarkable Catering Services Sure to Leave a Lasting Impression

Catering HQ has etched a name for itself as Australia’s premier provider of catering services for corporate events, as well as offering an exceptional and holistic hospitality management and advisory service across New South Wales, with the elements that com

Read Full PostRead - Eye Icon
Banking on DevOps
Finance
08/05/2018Banking on DevOps

Andy Cureton, Founder and Managing Director, ECS Digital, looks at how, in a competitive environment, banks and other organisations can use the latest IT and business methodologies to modernise their IT systems to meet customer expectations and comply with reg

Read Full PostRead - Eye Icon
The Role of the CIO Changing Thanks to AI and Digital Transformation
Innovation
24/05/2023The Role of the CIO Changing Thanks to AI and Digital Transformation

The chief information officer (CIO) is instrumental in helping companies use technology well and achieve stated goals. However, the role of the CIO is becoming significantly different than it once was.

Read Full PostRead - Eye Icon
Is Dropshipping Bad for the Environment?
News
26/05/2025Is Dropshipping Bad for the Environment?

Dropshipping is growing in popularity. You don’t need to keep stock or manage a warehouse. This makes it an attractive option for aspiring entrepreneurs. You set up an online store, connect with suppliers, and sell products without physically handling th

Read Full PostRead - Eye Icon
Ticketing Events Solutions for Culture Events: A Practical Guide
Technology
23/06/2026Ticketing Events Solutions for Culture Events: A Practical Guide

Running a cultural institution has never been straightforward. Museums manage timed entry and school groups. Theatres balance subscriptions, seat management, and last-minute demand. Opera houses maintain complex patron relationships while handling premium pric

Read Full PostRead - Eye Icon
Inventory & Natural Disasters: How Businesses Can Prepare
Strategy
28/04/2021Inventory & Natural Disasters: How Businesses Can Prepare

Businesses that effectively position their inventory are better equipped to respond to natural disasters. They are also able to assist communities in need.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow