Carlyle Asia Partners, an affiliated entity of Carlyle, has entered into a definitive agreement to acquire a 100% stake in KFC Korea. The business operates the KFC brand in South Korea under a master franchise agreement with Yum! Brands, the world’s largest restaurant chain company with more than 55,000 restaurants.
Since opening its first store in Seoul in 1984, KFC Korea has grown to operate over 200 stores nationwide.
Carlyle seeks to leverage its experience in the food and beverage and quick-service restaurant sectors in Asia to work with KFC Korea’s management team to help accelerate new store openings, enhance marketing capabilities, and drive menu innovation to meet evolving consumer preferences in the country. Carlyle also owns KFC Japan and looks to further strengthen its strategic relationship with Yum! Brands through this transaction. Terms of the transaction are not being disclosed.
Carlyle currently owns A Twosome Place, a leading premium dessert café chain with over 1,700 stores in South Korea, and KFC in Japan. Previous portfolio companies in the sector have included McDonald’s China and Japanese restaurant chain operator Chimney, among others.
