SPC to Spin Off Paris Croissant Unit—Separating Business and Investment Operations

SPC Group, a major South Korean food and bakery conglomerate, has announced plans to spin off its affiliate Paris Croissant Co., aiming to separate its business and investment functions.

(Seoul=Yonhap Infomax) Su In Jeong—SPC Group said on the 24th that Paris Croissant held a board meeting on the 21st and resolved to proceed with a physical division, with internal communications to employees currently underway.

The group stated that the spin-off is intended to establish a management structure that enables specialized decision-making by dividing Paris Croissant’s holding company role into business operations and investment/management segments.

Paris Croissant will also move forward with a merger process involving its wholly owned subsidiary, SPC. SPC currently provides shared services such as compliance, legal affairs, and public relations for group affiliates. The company explained that these functions will continue after the merger.

SPC Group emphasized that all employees will be comprehensively transferred during the merger and spin-off, ensuring that wages, working conditions, employee benefits, and severance pay remain unchanged.

The final shareholder meeting to approve the spin-off is scheduled to be held within this year.

sijung@yna.co.kr

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