Sold: Buy the Way to Lotte Group

By Brett Moffat·January 26, 2010·No comments
M&A News·Tagged: Buy The Way, Korea Con, Lotte, Unitas Capital

Convenience store chain Buy The Way has been sold to Lotte Group for KRW 274 billion.

Today’s JoongAng Daily reports - Lotte signs deal to buy Buy The Way

Korea’s retail conglomerate Lotte Group, which runs the local version of the 7-Eleven chain, said yesterday that it will purchase Buy the Way, a rival convenience store chain, from the U.S.-based private equity fund Unitas Capital for 274 billion won ($239 million).
The deal will give Lotte 26 percent of the local convenience store industry with 2,300 7-Eleven and 1,231 Buy the Way branches. Family Mart is the current No.1 player with 33.3 percent of the market. GS25 is second at 28.6 percent.

For more information on the sale see the previous post - Lotte offers ‘reasonable’ price for Buy The Way.