이 기사는 2021년 06월 21일 07시45분 thebell에 표출된 기사입니다

Global private equity (PE) firm TPG is speeding up its sale of Health Balance.

TPG and Standard Chartered Securities, which manages the sale process, plan to hold the final round of bidding for the nutritional supplement company in mid-July, industry source said. The sale began earlier this year in the form of a limited competitive bidding process. Two or three prospective buyers, including Stonebridge Capital which formed a consortium with a strategic investor, are currently conducting detailed due diligence on the company.

HB F&B, Health Balance’s baby food company, which was spun off last year, has been excluded from the sale while online platform Fitness Store and mask brand ETIQA have been put up for sale.

TPG acquired 100% of Health Balance from Anchor Equity Partners in 2019 for 280 billion won ($247 million) and has grown the company through bolt-on acquisitions. Health Balance has various businesses, including red ginseng products, weight-loss foods, and fitness supplement retail, under its arm.

TPG will keep the baby food business. It has shown strong interest in the Health Balance’s baby food businesses like Bebecook and Alvins since its acquisition of the company.

TPG spun off the baby food business and established HB F&B at the end of last year. HB F&B oversees companies including Bebecook, the largest baby food company in the country, and Naedam F&B, formerly Alvins FD.

The PE firm aims to increase HB F&B’s share in the market and enter the Chinese market amid strong growth potential. The baby food market is estimated to have grown to 169.9 billion won in 2020 from 68 billion won in 2015. It is forecasted to grow to 333 billion won by 2025, according to data from Euromonitor. (Reporting by Se-hun Jo)