Kurly to acquire 100% stake in Next Kitchen

Kurly has announced plans to acquire the remaining 53.6% stake in Next Kitchen, a company specializing in the planning and development of Home Meal Replacements (HMR) and Restaurant Meal Replacements (RMR). Through a small-scale stock exchange scheduled for December 7, Kurly will increase its ownership from 46.4% to 100%, making Next Kitchen a wholly-owned subsidiary.

The transaction involves the issuance of 334,926 new common shares by Kurly at an exchange ratio of 1 share of Next Kitchen to 6.6 shares of Kurly. This move is intended to internalize the entire value chain of the convenience food business, integrating product planning, development, and distribution within a single organization.

Kurly aims to leverage this integration to strengthen its domestic competitiveness and expand K-food exports to international markets, including the United States. Following the completion of the acquisition, Choi Jae-hoon, currently Kurly’s Chief Commercial Officer (CCO), is expected to be appointed as the new CEO of Next Kitchen.