Ubay-ubay nga Korean Giants Apil Sa $8.3 Bilyon “HANSSEM Home Acquisition War”. Ang merkado sa China anaa sa grabe nga pagkunhod.

The takeover battle for Korea’s largest home furnishing company is heating up.

With the entry of Korean retail giant, LX nga grupo, the takeover competition for HANSSEM Home nagkakusog. Kaniadto, Ang Shinsegae Department Store sa South Korea, Hyundai Livart, usa ka subsidiary sa Hyundai Department Store, and Korea’s Lotte announced their intention to acquire HANSSEM in conjunction with South Korean private equity firm IMM PrivateEquity (IMM), but with the addition of LXHausys, usa ka kompanya sa mga materyales sa pagtukod nga gipanag-iya sa LX Group (kanhi bahin sa LG), usa sa pinakataas sa Korea 50 mga grupo sa korporasyon, the takeover is expanding. The takeover camp is expanding.

If LX Hausys acquires HANSSEM, the number one company in the interior design and building materials industry, the landscape of the Korean building materials and interior design industry will be shaken up dramatically. The market share of the top players would be recalculated.

According to Korean media sources, LX Hausys held a board meeting on 6 September and announced that it would invest 300 bilyon nga won (RMB 1.7 bilyon) as a strategic investor in a private equity fund that IMM plans to set up to acquire HANSSEM. Hinuon, ang katapusan nga pagpamuhunan wala pa makumpirma.

Lotte, Shinsegae and Hyundai Department Store Group have already announced their plans to participate in the acquisition. LX Hausys is considered to have the most competitive advantage given the synergies with HANSSEM’s business.

With the recent divestment of LX Group from LG Group, its business scope has been expanded from traditional building materials to the whole house. Building materials account for approximately 70% sa LX Hausys’ halin, nagtabon sa mga bintana, pultahan, salog, panel, artificial marble and more. The division recorded sales of KRW 659.6 billion in the second quarter of this year, pataas 25% tuig-sa-tuig. Ang LX Hausys adunay pinakadako nga bahin sa merkado sa kategorya sa bintana alang sa mga proyekto sa real estate sa Korea. It also has strength in high value-added product lines such as marble kitchen sinks and PF insulation.

HANSSEM has an overwhelming presence in the Korean retail market, having started with kitchen furniture in 1970 and then interior furniture in 1997, and has now expanded its business to include building materials such as bathrooms, mga bintana ug salog. It is currently the number one market player in Korea in kitchen furniture and interior furniture. Ang panguna nga mga tigbaligya niini, quality shops and the number of shops are the most important reasons for attracting the acquirer.

Sumala sa mga taho sa Korean media, HANSSEM has showrooms and oversized experience centers in 15 key locations in the areas of Bangbae-dong, Seocho-gu, Seoul, Nunhyeon-dong, Gangnam-gu, Pangyo-dong, Daegu and Hanam-si, Korea. HANSSEM products are exclusively available at these locations, ingon man 550 online shops for re-house remodeling, 240 kitchen furniture shops and 80 flagship interior design shops.

HANSSEM employs 8,000 people specializing in remodeling and 2,500 in interior design sales. Ang pagbaligya sa kompanya sa miaging tuig (267.5 bilyon KRW) labaw pa sa upat ka pilo gikan sa miaging tuig (65 bilyon KRW), the highest result since its founding. Ang online channel niini, the HANSSEM Mall, nga naghatag kasayuran sa pag-customize sa bag-ong mga balay, moving houses and children’s rooms, has seen positive sales growth since the first quarter of last year. Kini sa pagkakaron nagdani 3 milyon nga kustomer matag bulan.

Sa 2020, its B2C (remodeling and kitchens) division saw a 23% year-on-year increase in sales. Niini, Re-House, which offers total remodeling solutions, mitubo sa 33.3%. HANSSEM’s kitchen sales for second homes account for 27.5% of total sales by 2020. Together with the 30.6% of online and offline sales from the sale of furniture and home furnishings, the B2C business accounts for 69.1%.

Kitchen and Bath Information based on public data

Sa ikaduhang kwarter sa 2021, sales and operating profit increased by 9.6% ug 22.6% respectively compared to the previous year. Remodeling segment sales increased by 24.6 percent year on year.

Kitchen and Bath Information based on public data

Bisan pa sa pagtubo sa gidak-on, HANSSEM’s overseas subsidiaries have not been as successful. The sales growth rates of HANSSEM’s US and Chinese subsidiaries have also slowed down each year for the past three years. Sa miaging tuig, sales of the two subsidiaries fell by 10.2% ug 3.9% matag usa, while the Chinese subsidiary experienced a double-digit decline. The decline continued in the first and second quarters of this year as well with negative growth of 17.3% ug 45.7%.

HANSSEM was already present in China in the early 1990s when it established Beijing HANSSEM Home Products Co Ltd and invested in a cabinet manufacturing plant in Beijing in 1995. It undertakes engineering business and has joined forces with headline companies in the pan-home furnishing industry to develop some engineering projects.

It was found that the shareholder of Beijing HANSSEM Home Products Co Ltd, Hansem (China) Investment Co Ltd, had increased its registered capital in 2020, but this year Beijing HANSSEM Home Products Co Ltd had a succession of changes in legal representatives, mga direktor, shareholders and other members in February.

It is worth noting that earlier this year there have been media reports that most of the Korean executives of HANSSEM stationed in China have been withdrawn one after another in late 2018 ug sayo 2019. Some of the Chinese employees of Chinese origin are looking for their next homes, and some have even already found their next homes. They are only awaiting the arrival of significant redundancy compensation.

Ang una nga gipahibalo nga deal alang sa IMM nga makakuha usa ka 30.21% stake ug mga katungod sa pagdumala gikataho nga bili 1.5 trilyon nga midaog (RMB 8.3 bilyon).

Susihon sa IMM ang Lotte's ug LX Hausys’ investment and identify a partner as early as mid-September. Sa pagkakaron, Opisyal nga gipahibalo ni Lotte nga mao kini “pagkonsiderar sa partisipasyon” ug LX Hausys mipahibalo nga kini mamuhunan 300 billion KRW as a strategic investment. Following the completion of the acquisition of HANSSEM, Gilauman sa IMM nga mapalambo kini nga labing kadaghan nga operator sa online ug offline nga merkado sa sulud sa balay.