Korean buyout firm VIG Partners has acquired an 85% stake in Viol while DAOL Private Equity has sold its 100% stake in MZ Food Solution.
VIG Partners buys 85% stake in medical device maker Viol
Korean private equity firm VIG Partners has successfully completed a public tender offer for KOSDAQ-listed aesthetic medical device maker Viol Co Ltd, acquiring 28.5 million shares.
Combined with shares to be acquired from major shareholder DMS Co Ltd, VIG will hold about 85% of Viol’s voting rights, per the announcement. The deal paves the way for VIG to delist Viol.
VIG intends to replace remaining minority shareholders’ stakes with cash, following a structure often used in South Korea to privatise listed firms once a shareholder surpasses the two-thirds threshold.
Prior to initiating the comprehensive stock exchange, however, VIG plans to conduct open-market purchases at the same price as the tender offer (12,500 won per share), “to provide liquidity and exit opportunities for remaining minority shareholders”.
Founded in 2005, VIG Partners is focused on mid-market buyouts. It has managed $3.5 billion of committed capital and invested in about 30 Korean companies.
DAOL Private Equity exits MZ Food Solution
DAOL Private Equity (formerly KTB Private Equity) has divested its entire stake in Korean sauce manufacturer MZ Food Solution for an undisclosed amount.
The PE firm sold its 100% stake to LF Food, the food subsidiary of Korean conglomerate LF Corp. Financial terms were not disclosed.
MZ Food Solution, based in Pocheon-si, is a leading original design manufacturer (ODM) of sauces, offering over 2,500 SKUs spanning Korean, Chinese, Japanese, and Western cuisines.
The company primarily serves B2B clients such as franchise restaurant chains, food manufacturers, and distributors.
DAOL, founded in 2001, has over $630m in assets under management. It focuses on mid-cap buyouts and growth capital investments across the consumer and industrial sectors.
The buyer, LF Food is expanding its footprint in the food sector through strategic acquisitions. Per the announcement, LF Food’s acquisition strengthens its in-house R&D and manufacturing capabilities and supports its expansion in the Home Meal Replacement (HMR) and Restaurant Meal Replacement (RMR) markets.
