血拼加盟扩张后遗症：爱零食遭三只松鼠弃购，加盟商直指“韭菜陷阱”

Core Viewpoint - The termination of the investment agreement between Three Squirrels and Love Snacks is a mutual decision due to the failure to reach consensus on key terms, impacting Three Squirrels' strategy in the snack retail market [1][2]. Company Summary - Three Squirrels announced the termination of the investment agreement with Love Snacks, which was initially signed in October 2023, and aimed to expand its presence in the snack retail sector [1]. - The company had previously planned to invest up to 2 billion yuan in Love Snacks, along with other acquisitions, to enhance its supply chain and product offerings [1]. - The other two acquisitions, Love Discount and Zhi Yang Foods, have been completed, with Love Discount rebranded as Squirrel Love Discount and Zhi Yang as Squirrel Zhi Yang [1]. Industry Summary - The snack retail industry is experiencing rapid growth, with projections indicating a market size of 4.9 trillion yuan by 2029 [14]. - Love Snacks has been expanding aggressively, reportedly aiming to reach 5,000 stores by 2025 and 10,000 by 2026, with over 2,000 stores already operational as of June 2024 [3]. - The competitive landscape includes major players like Ming Ming Very Busy, which has opened nearly 14,394 stores, primarily through a franchise model, contrasting with Love Snacks' approach [14][15]. - The failure of the acquisition may hinder Three Squirrels' ability to compete effectively in a market where leading brands are rapidly establishing dominance [19].