US-Based Carlyle Group Acquires KFC Korea: Sets Sight on Nationwide Expansion

The US-based private equity firm, The Carlyle Group, has successfully acquired KFC Korea. With this acquisition, the firm aims to expand the existing 200-store portfolio of the popular restaurant chain in South Korea.

The deal, which was initially announced in December, has now been finalized, with Carlyle gaining full ownership of KFC Korea. KFC Korea operates in South Korea under a master franchise agreement with Yum! Brands. The Carlyle Group bought the stake from Orchestra Private Equity.

Envisioning Growth and Expansion

John Kim, a partner and the head of Carlyle Korea, expressed enthusiasm about the partnership with Yum Brands. Kim said that Carlyle is eager to work with KFC Korea’s management team to grow the iconic brand in South Korea.

Kim spoke highly of KFC Korea, stating that the brand’s strong heritage and market position make it ripe for expansion. He also mentioned the growing demand for quick-service dining among Korean consumers, which KFC Korea could effectively cater to.

Carlyle’s current holdings include A Twosome Place, a dessert cafe chain boasting over 1700 stores in South Korea, as well as KFC in Japan.

An Exciting Milestone

Tony Shin, CEO of KFC Korea, also voiced his excitement about the partnership with Carlyle. He highlighted Carlyle’s extensive experience in the quick-service restaurant and F&B sectors, expressing optimism that the partnership will drive continued growth and innovation.