Dongwon Home Food has signed a memorandum of understanding (MOU) with the handmade burger franchise Downtowner to supply food ingredients.
The agreement outlines Dongwon Home Food’s plan to provide ingredients to Downtowner stores across South Korea, worth around KRW5bn ($3.6m) each year.
The collaboration is expected to leverage Dongwon Home Food’s extensive portfolio of around 30,000 food ingredients, including sauces and dressings manufactured in-house.
Dongwon Home Food sources high-quality agricultural and marine products through direct purchasing, fixed-price, and negotiated trading.
The new partnership with Downtowner aligns with Dongwon’s strategy to expand its footprint in the food supply sector by utilising its diverse ingredient offerings.
Dongwon Home Food CEO Jeong Mun-gok said: “We will continuously strive to maintain a cooperative relationship with Downtowner for mutual growth and provide the best dining services by supplying fresh and safe food ingredients through a systematic management system.”
Downtowner CEO Lee Geon-ho said: “With this partnership established with Dongwon Home Food, we will receive quality ingredients and provide excellent quality products to consumers, aiming to grow as a brand representing premium handmade burgers.”
Dongwon Group, the parent company of Dongwon Home Food, is a prominent fishing enterprise in South Korea, and Dongwon Industries is its holding company.
Earlier this year, Dongwon Industries announced its plans to take full ownership of its food affiliate, Dongwon F&B.
The merger will integrate Dongwon Home Food with other subsidiaries, including US-based StarKist and Senegal-based S.C.A, under a single global food division.
The strategic consolidation aims to streamline operations and enhance Dongwon’s competitiveness in the global food market.
The merger, which was facilitated through a stock swap agreement, is part of Dongwon’s broader initiative to unify its food operations and strengthen its international presence.
