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Morgan Stanley PE acquires health functional foods maker Life & Bio Latest deal marks PE firm's first buyout investment since 2014

Translated by Kim So-in 공개 2022-04-07 08:11:14

이 기사는 2022년 04월 07일 08:09 더벨 유료페이지에 표출된 기사입니다.

Morgan Stanley Private Equity (Morgan Stanley PE) will acquire South Korean health functional foods manufacturer Life & Bio, which will mark the firm’s first buyout investment in eight years.

Morgan Stanley PE signed a stock purchase agreement to acquire management rights and new shares in Life & Bio, according to industry sources on Tuesday. The deal size is about 80 billion won ($65 million), which will be financed through the PE firm’s existing fund.

Life & Bio plans to use some of the proceeds to acquire baby food manufacturer Food Care. The deal will help Morgan Stanley PE to expand its portfolio of health functional food manufacturers ranging from infants to the elderly.

Life & Bio, which was established in 2016, has expanded its business into the food and beauty sectors. It recorded revenue of 10 billion won in 2018, just two years after its establishment.

Morgan Stanley PE has reportedly made the latest investment amid increasing demand for health functional foods after the Covid-19 pandemic. The PE firm plans to increase Life & Bio’s market share by expanding functional food brands targeting millennials and Generation Z after the acquisition.

The latest deal will mark Morgan Stanley PE’s first buyout in eight years after its takeover of Hanwha L&C, now Hyundai L&C, in 2014. The PE firm’s portfolio companies include Nolboo and Jeonju Paper. (Reporting by Byung-keun Kam)
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