Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = CJ Foodville has successfully completed external investment of KRW 70 billion.

CJ Foodville celebrated the closing of the deal with the completion of the investment payment, just over three months after selecting Arges Private Equity(‘Arges PE’) as the preferred bidder in August.

CJ Foodville has raised a total of KRW 70 billion through a third-party placement of approximately 1.29 million new shares to Arges PE. Arges PE will become CJ Foodville’s second largest shareholder, holding a 12.3% stake.

It is known that CJ Foodville’s equity value was evaluated at 500 billion won in the process of attracting investment. In fact, CJ Foodville’s overseas business has been so successful that it is rapidly increasing its profitability as it accelerates the growth of its global store count.

CJ Foodville plans to use the investment raised this time as a future growth engine in the global market, including strengthening Tous Les Jours’ North American business. In fact, CJ Foodville announced in September that it would build a new US plant for Tous Les Jours in Gainesville, Hall County, Georgia, USA, with a capacity of more than 100 million pieces per year in an area of approximately 90,000 square meters, with a planned completion date of 2025. The goal is to operate more than 1,000 stores in North America alone by 2030.

By Soon-ki Lee(s8789@nspna.com) and Yoo-ni Park(ynpark@nspna.com)

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