South Korean Firm The Venture Acquires Majority Stake in Chicken Plus Vietnam, Targets Rapid Expansion
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South Korean investment firm, The Venture, has recently acquired the majority shares of Chicken Plus’ business operations in Vietnam. This is part of their overseas investment project fund.
Chicken Plus: An Expanding Brand
Chicken Plus, a renowned fried chicken brand from South Korea, operates under a franchising model. The chain, which was first established in 2016, has seen significant growth in its domestic market with over 500 locations currently in operation.
In 2019, the brand made its debut in Vietnam and has since expanded to more than 100 locations across the nation.
Investment Strategy
The Venture secured its majority stake in Chicken Plus Vietnam through an overseas investment project fund. This fund also includes a key domestic chicken franchise company as a strategic investor.
The investment firm aims to build on the existing local store network and operational infrastructure of Chicken Plus Vietnam. The goal is to increase its store count to 270 within the next four years.
Aside from this expansion plan, the company also has plans to establish its own poultry farm. They aim to internalize production, distribution, and sales processes to ensure cost competitiveness and quality control.
No Changes to Management
Following the acquisition, there will be no alterations to the existing management or personnel.
Daehyun Kim, a partner at The Venture who supervises investments in Vietnam, suggests that the acquisition’s primary objective is to enhance asset value. This is to be achieved through the integration of the Korean restaurant system with local infrastructure.
The Venture firm has a history of investing in logistics data solutions and e-commerce startups, primarily in Vietnam and Malaysia. This latest deal indicates their expansion into the restaurant sector.
Questions & Answers
What is the goal of The Venture’s acquisition of Chicken Plus Vietnam?
The Venture aims to increase the store count of Chicken Plus Vietnam to 270 within the next four years, by leveraging the existing local store network and operational infrastructure.
What changes will occur after the acquisition?
There will be no changes to the existing management or personnel after the acquisition.
What is the investment history of The Venture firm?
The Venture has a history of investing in logistics data solutions and e-commerce startups, primarily in Vietnam and Malaysia. This latest acquisition signals its expansion into the restaurant sector.