Uni-President Enterprises, a prominent player in the food and beverage industry, has unveiled ambitious growth plans, signaling its appetite for further expansion. In January, the conglomerate made a significant move by bidding for shares of Woongjin Foods, a South Korean beverage maker, in a bid to augment its already vast portfolio.
This strategic maneuver comes on the heels of Uni-President’s substantial acquisition last year, where it shelled out $827 million to acquire full ownership of the Carrefour hypermarket and grocery store chain in Taiwan, previously a joint venture. The company intends to aggressively expand its footprint under the Carrefour brand, aiming to open 15 new stores annually across the island, with the goal of reaching 500 stores, up from the current count of 314.
Simultaneously, Uni-President, recognized as Taiwan’s largest convenience store operator, boasting nearly 7,000 7-Eleven outlets across the island, recently unveiled its latest endeavor. In Tainan City, it inaugurated the island’s largest 7-Eleven store, spanning an impressive 660 square meters.
Evidently not content with its physical presence alone, Uni-President is also venturing into the digital realm in pursuit of growth. Chairman Alex Lo disclosed in March to investors the company’s intentions to explore “future e-commerce strategies.” This ambition materialized with the purchase of $25 million worth of convertible bonds in Yahoo Taiwan.
The entrepreneurial couple steering Uni-President, Chairman Alex Lo and board director Shirley Kao, have seen their fortunes ascend slightly, with their wealth now valued at $1.3 billion. Kao, whose late father Kao Chin-yen co-founded the conglomerate, continues to play an instrumental role in shaping its trajectory.
