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gsretail.com

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Investments

5

Partners & Customers

2

About GS Retail

GS Retail (KRX: 007070) is a distribution, information, & logistics company with brands including GS25 (a convenience store brand in South Korea), GS Supermarket (ensuring safe, fresh food products to reach consumers), Watsons (broadening consumer choices in health and beauty), and Parnas Hotel (global hotel brand).

GS Retail Headquarter Location

GS Tower, 679 (Yeoksam-dong) 508, Nonhyeon-ro, Gangnam-gu

Seoul, 06141,

South Korea

+82 2 2006 2050

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Research containing GS Retail

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CB Insights Intelligence Analysts have mentioned GS Retail in 1 CB Insights research brief, most recently on Aug 17, 2021.

Latest GS Retail News

Deal: Delivery Hero Sells Yogiyo App To Korea's GS Retail

Aug 16, 2021

Delivery Hero, a German food delivery giant with operations across Europe, Asia, and the Middle East, is selling its local food delivery app in South Korea named Yogiyo, which is the second-largest delivery app in the country. It's selling it for 800 billion Korean Won ($688mn) to a consortium spearheaded by GS Retail, a Korean convenience store chain. GS Retail partnered with private equity firms Permira and Affinity Equity Partners to finance the acquisition. The convenience store chain is contributing 30% of the acquisition price tag while the two PE firms split the remaining 70%. GS Retail operates 16,000 convenience stores in South Korea and has a few dozen logistics centers offering on-demand deliveries to its customers, so it makes sense that it's buying Yogiyo from Delivery Hero to bolster its delivery business. Now, Delivery Hero isn't exiting the Korean market with Yogiyo's sale but rather scaling to higher heights. Selling Yogiyo, Korea's 2nd-largest delivery app, is in fact an agreement the company made in order to buy Woowa Brothers, Korea's largest delivery app operator. Delivery Hero struck a deal to buy Woowa for $4bn (cash and stock) in December 2019, but given it already owned Woowa's closest competitor, Yogiyo, regulators pushed against the deal. As a compromise, the German firm agreed to sell Yogiyo in order to be allowed to buy Woowa and has just done that. Because of delays with Korea's antitrust agency, an acquisition deal that was struck in 2019 stalled into March this year for completion. Now, with Yogiyo's sale, all terms of the deal have finally passed through. As it is, Delivery Hero, a German company, has become Korea's number one food delivery player with a market share of over 60%. It's not that unusual for the German firm to have a major hand in other countries' delivery markets, such as its Foodpanda brand which largely dominates Asian markets, excluding China. Delivery Hero also has valuable part-stakes in other global food delivery counterparts such as Glovo (Spain) and Rappi (Latin America). Recently, it paid nearly $500mn for a 5% stake in the UK's biggest food delivery operator, Deliveroo. With Woowa in the bag, Delivery Hero's solid foreign stronghold has gotten even stronger. Delivery Hero trades on the German securities market (ETR: DHER). Its current market cap is 29 billion euros ($34bn). Share

GS Retail Investments

5 Investments

GS Retail has made 5 investments. Their latest investment was in 21gram as part of their Seed VC - II on January 1, 2020.

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GS Retail Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/1/2020

Seed VC - II

21gram

$1.73M

Yes

Undisclosed Investors, and WADIZ Ventures

1

9/20/2018

Seed

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$99M

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10

9/13/2018

Series A

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$99M

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10

7/11/2018

Corporate Minority

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$99M

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10

10/31/2017

Series A - II

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$99M

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10

Date

1/1/2020

9/20/2018

9/13/2018

7/11/2018

10/31/2017

Round

Seed VC - II

Seed

Series A

Corporate Minority

Series A - II

Company

21gram

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Amount

$1.73M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Undisclosed Investors, and WADIZ Ventures

Sources

1

10

10

10

10

GS Retail Acquisitions

3 Acquisitions

GS Retail acquired 3 companies. Their latest acquisition was YOGIYO on August 13, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/13/2021

Corporate Majority - II

$991

Acquired Unit

6

7/21/2021

Bridge

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$99M

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10

5/11/2021

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$99M

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10

Date

8/13/2021

7/21/2021

5/11/2021

Investment Stage

Corporate Majority - II

Bridge

Companies

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Valuation

$991

Total Funding

$99M

$99M

Note

Acquired Unit

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Sources

6

10

10

GS Retail Partners & Customers

2 Partners and customers

GS Retail has 2 strategic partners and customers. GS Retail recently partnered with Shinhan Financial Group on May 5, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

5/26/2021

Partner

Shinhan Financial Group

South Korea

Banks in S. Korea experiment future services at convenience stores

The partnership states Shinhan Bank and GS Retail plan to develop a convenience store specialized in financial services .

1

6/29/2018

Partner

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10

Date

5/26/2021

6/29/2018

Type

Partner

Partner

Business Partner

Shinhan Financial Group

Country

South Korea

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News Snippet

Banks in S. Korea experiment future services at convenience stores

The partnership states Shinhan Bank and GS Retail plan to develop a convenience store specialized in financial services .

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Sources

1

10

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