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The acquisition of ‘Nation of Delivery’ by Delivery Hero, Germany, which was recognized as the largest M&A in the foodservice industry, was concluded with conditional approval to sell ‘Yogiyo’. Delivery Hero has accepted the conditional approval. Interest is centered on the acquisition of ‘Yogiyo’, valued at KRW 2 billion, and the impact of the delivery market. Reporter Oh In-seok about the report. The review of the merger and acquisition of ‘People of Delivery’, which is estimated to have a corporate value of over KRW 4.4 trillion, was completed with conditional approval in one year. As a prerequisite for German Delivery Hero Korea to take over the delivery nation, the Fair Trade Commission ordered to sell 100% of its ‘Yogiyo’ delivery app to a third party within 6 months. It means acquiring ‘Nation of Delivery’, but selling ‘Yogiyo’ to maintain the national delivery app ‘Second Competition’. The two companies’ combined market share for delivery applications exceeds 99%. The FTC also maintained the connection and screen composition of the ‘Yogiyo’ delivery app until the sale was completed, making it impossible to change the commission rate applied to restaurants. The FTC determined that the combination of the two companies would likely limit competition, resulting in losses for consumers and restaurants. If competition for discount promotions disappears between the two companies, discount coupons will decrease and there are concerns that existing restaurant rates will increase. Delivery Hero decided to sell Yogiyo in response to the FTC’s request to take over the delivery nation. The foodservice industry predicts that the value of ‘Yogiyo’ will be around 2.4 trillion won, which is half of the ‘Delivery Nation’. Amid the rapid growth of the delivery market due to the Corona 19 outbreak, in the industry large distribution companies, Kakao and Coupang, a late launcher of delivery applications, are being discussed as candidates for acquisition. YTN Oh Inseok[[email protected]]is.
