Chorok Maeul & Jeongyuggak Push for M&A, Six-Month Acquisition Goal

Eco-friendly food brand Chorokmaeul and fresh meat online platform Jeongyookgak have officially selected Samil PwC (Samil Accounting Firm) as their lead M&A advisor, thereby formally commencing the merger and acquisition (M&A) process. This selection marks Samil PwC as the sole advisor officially approved by the Seoul Bankruptcy Court, holding significant meaning in further enhancing the fairness and credibility of the future M&A process. Samil PwC will, going forward, lead all processes including attracting investors, due diligence, and terms negotiation. Chorokmaeul and Jeongyookgak, under the court's strict supervision, plan to complete the acquisition process within six months in principle. The court intends to conduct all processes transparently and fairly, prioritizing the protection of stakeholders and the preservation of corporate value. Recent unofficial M&A reports that have emerged from some quarters have been clarified as having no relation to the official procedures of the court-appointed receiver. Chorokmaeul is currently operating its main consumer touchpoints, including nationwide stores, logistics centers, and customer service centers, normally, and is seeking stabilization. In particular, it is focusing its efforts on restoring trust with partners and franchisees and stabilizing the supply chain, thereby building the foundation for a new leap forward. Meanwhile, Jeongyookgak resumed operations on the 10th and is showing active movement. Jeongyookgak, an online-based specialized brand for fresh livestock products, emphasizes its strength in ultra-fresh delivery through its proprietary logistics network, 'Jeongyookgak Runs'. This acts as a factor attracting high acquisition interest from numerous food companies looking to enter the online market and expand sales. Leveraging this resumption of business, Jeongyookgak plans to gradually expand its delivery services and product lines, starting with ultra-fresh pork belly and neck meat. Both companies stated that under the court's supervision, they will exert all efforts to achieve early normalization and secure a foundation for sustainable growth through a swift and stable acquisition process. Furthermore, with transparent and responsible management, they have expressed a strong determination to achieve a successful rehabilitation that earns the trust of all stakeholders.