INTAKE, a food tech company specializing in alternative foods, announced on the 29th that it has signed a strategic partnership with B2B catering specialist JSG and is making a full-fledged entry into the B2B catering and food material market. Through this partnership, INTAKE has completed an investment contract to acquire a major stake in JSG, and the two companies plan to pursue various strategies for joint growth based on this. In particular, they plan to begin preparing for an initial public offering (IPO) in the near future.
Intake and JSG plan to pursue mutual growth through three main strategies while maintaining an independent management structure.
First, in order to grow the existing group meal service and catering business, we plan to combine Intake’s health food material technology with JSG’s menu development technology to provide our clients with healthy and delicious wellness meal services that are low in salt, low in sugar, and high in protein. Through this, we plan to maximize the synergy of the two companies’ collaboration and provide our clients with healthier and more innovative meal solutions.
Second, we plan to secure new orders worth more than 10 billion won annually from the central industrial complex centered on Cheonan, and open more than 50 new business sites in the metropolitan area based on the upgraded meal service. In addition, we plan to expand our business area by expanding our mobile meal service to major industrial clusters and care schools in Gyeonggi-do, such as Suwon and Pangyo. Third, we plan to develop our own food material brand (PB) products based on Intake’s alternative material and product development capabilities and expand into the domestic and international food material distribution market through a bolt-on strategy that integrates these into the food material distribution platform.
Song Hong-gu, CEO of JSG, said, “We expect that the combination of JSG’s solid catering infrastructure and Intake’s innovative food material technology will create a strong synergy in the market,” and “The two companies will join hands to grow into a catering and food material distribution company with a sales of 100 billion won within three years.” Han Nok-yeop, CEO of Intake, said, “Through this strategic alliance, we have established a stable business structure for B2C and B2B, and at the same time, by securing a B2B platform for the expansion of core food materials, we will work with JSG to concretize our IPO plan in the near future.”
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