WeFun (CEO Kim Heon), a BaaS (Business as a Service) platform company, has completed the acquisition of Human Food and Human Food Service, expanding its business portfolio into corporate and facility-based food service operations. This acquisition is a strategic investment made by WeFun, in partnership with Epic Platform Partners and Hana S&B Investment, aimed at expanding its platform business and enhancing synergies.
Human Food and Human Food Service are specialized companies that have been operating contracted meal service in approximately 220 workplaces nationwide, mainly corporate workplaces and hospitals. As of 2024, they recorded combined sales of approximately KRW 47 billion and operating profit of approximately KRW 5 billion, and are evaluated as excellent businesses with stability and growth potential.
With this acquisition, WeFun will expand its existing subscription-based platform experience into the food service sector. By integrating repetitive operational tasks performed by businesses and facilities into a platform structure, it will build a comprehensive food service portfolio that extends from Breakfast24 and Lunch24 to catering services, strengthening its service capabilities for B2B customers.
“The acquisition of Human Food is a strategic decision to expand our existing platform operational capabilities into the food service operations area,” said Hwang Min-jae, Vice President (CSO) of WeFun. “By incorporating field execution capabilities into the platform structure, we have laid the foundation for providing a consistent operational experience to our corporate and facility customers.”
WeFun has continued its platform expansion strategy, launching lunch subscription service Lunch24 through its acquisition of Pudding last year and snack subscription service through its acquisition of Snackfor's B2B business rights. The acquisition of Human Food is seen as an extension of this strategy, incorporating all aspects of food service operations into its platform.
Human Food's hospital-focused customer base is particularly crucial for WeFun's platform scalability. Beyond its existing B2B structure focused on general corporations, it has secured the foundation for expanding the scope of its BaaS offering to include hospitals nationwide and senior care facilities, all with a high population density.
Kim Heon, CEO of WeFun, said, “Through the acquisition of Human Food, we will build a food service portfolio that goes beyond breakfast and lunch to encompass the entire operation of businesses and facilities. We will also grow into a total BaaS platform through successive strategic acquisitions.”
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