M&A Deal Summary

Crown Haitai Acquires Haitai

On October 1, 2004, Crown Haitai acquired food company Haitai from Unitas Capital, Affinity Equity Partners and CVC Capital Partners

Acquisition Highlights
  • This is Crown Haitai’s 1st transaction in the Food sector.
  • This is Crown Haitai’s 1st transaction in South Korea.

M&A Deal Summary

Date 2004-10-01
Target Haitai
Sector Food
Buyer(s) Crown Haitai
Sellers(s) Unitas Capital
Affinity Equity Partners
CVC Capital Partners
Deal Type Add-on Acquisition

Target

Haitai

Seoul, South Korea
Haitai is a manufacturer and distributor of confectionery and frozen food products in Korea.

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Buyer(S) 1

Buyer

Crown Haitai

Seoul, South Korea

Category Company
Founded 1947
Sector Food
Employees75
Revenue 1.05T KRW (2024)
DESCRIPTION

Crown Haitai provides confectionaries. It offers a range of products, including biscuits, wafers, snacks, pies, chocolates, sweets, and gum. Crown Haitai was founded in 1947 and is based in Seoul, South Korea.


DEAL STATS #
Overall 1 of 1
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: South Korea M&A 1 of 1
Year: 2004 M&A 1 of 1

Seller(S) 3

SELLER

Unitas Capital

Hong Kong, China

Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Unitas Capital is a private equity firm focused on buyouts and growth capital investments in medium-to-large sized businesses across Asia. Unitas targets opportunities throughout Australia & New Zealand, Greater China, Korea, Japan and Singapore. Areas of interest include branded consumer, retail and industrial manufacturing/services. Unitas dates back to 1999 (when it was part of and known as J.P. Morgan Partners Asia) and has offices in Hong Kong and Shanghai.


DEAL STATS #
Overall 1 of 13
Sector: Food M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 6
Country: South Korea M&A 1 of 4
Year: 2004 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 YPS

Singapore, Singapore

YPS is a marketer and distributor of advertising-sponsored Yellow and White Page directories. YPS publishes six directories with a combined circulation of approximately 3.1 million.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-30 Rhythm

Hamamatsu, Japan

Rhythm Corp. is an automotive parts manufacturer specializing in steering and suspension components.

Sell -
SELLER

Affinity Equity Partners

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Affinity Equity Partners is an independent private equity firm focused on traditional buyout and control oriented investments across Asia-Pacific valued up to US$1 billion. Sectors of interest include businesses in consumer-related goods and services, value-added manufacturing, healthcare, financial services and business services. Affinity prefers companies with an established track record as well as proven, consistent earning power and cash flow generating ability. Affinity will not consider investments in real estate, biotechnology, tobacco, oil and gas exploration, and weaponry development and sales. Affinity Equity Partners was spun out of UBS Capital Asia Pacific in 2004 and is headquartered in Hong Kong.


DEAL STATS #
Overall 1 of 24
Sector: Food M&A 1 of 5
Type: Add-on Acquisition M&A Deals 1 of 14
Country: South Korea M&A 1 of 10
Year: 2004 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-01 Haitai

Seoul, South Korea

Haitai is a manufacturer and distributor of confectionery and frozen food products in Korea.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 RT Sourcing Asia

Quarry Bay, China

RT Sourcing Asia Ltd enages in International sourcing, product design and development company in Hong Kong

Buy -
SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.


DEAL STATS #
Overall 28 of 181
Sector: Food M&A 5 of 11
Type: Add-on Acquisition M&A Deals 8 of 69
Country: South Korea M&A 1 of 6
Year: 2004 M&A 9 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-01 MagnaChip

Cheongju-si, South Korea

MagnaChip is a designer, developer and manufacturer of mixed-signal and digital multimedia semiconductors. It focuses on CMOS image sensors and flat panel display drivers designed for a wide variety of consumer electronics applications such as mobile handsets, flat panel televisions, computer monitors, digital cameras and PDAs. Magnachip Semiconductor was founded in 2004 and is based in Cheongju-si, South Korea.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-13 Meneba Meel BV

Rotterdam, Netherlands

Meneba is a European producer of grain derived products for processing in food and non-food applications like baby food, breakfast drinks, bakery ingredients and animal feed ingredients.

Sell -