三只松鼠宣布与爱零食“分手” 量贩零食赛道竞争加剧

Core Viewpoint - The acquisition of Hunan Ailing Snack Technology Co., Ltd. by Three Squirrels has been terminated due to disagreements on key terms, which reflects the competitive landscape in the snack retail sector [2][3][4] Company Summary - Three Squirrels announced the termination of the acquisition of Ailing Snack, stating that it would not have a significant adverse impact on its operations or future strategic plans [2] - The acquisition was initially proposed at a maximum price of 200 million yuan, indicating a valuation below 400 million yuan for Ailing Snack [4] - Ailing Snack, founded in 2020, has over 2,000 stores and ranked fifth in the number of snack store brands in China as of November 2023 [3] Industry Summary - The snack retail sector is experiencing intense competition, affecting profitability and operational decisions for companies like Three Squirrels [2][4] - The shift towards bulk snack retailing is seen as a strategic move by Three Squirrels to adapt to market pressures and explore growth opportunities [5] - The overall revenue for Three Squirrels has fluctuated, with a notable decline from 2019 to 2023, but is projected to rebound to over 10 billion yuan in 2024 [5][6] - The competitive landscape is challenging for non-leading snack brands, with many facing difficulties in maintaining store operations and profitability [7]