People walk past a KFC store in Seoul, June 5, 2024. Yonhap
U.S. private equity firm The Carlyle Group has acquired KFC Korea, the operator of KFC restaurants in Korea, as it seeks to drive aggressive expansion in Asia's fourth-largest economy, KFC Korea said Monday.
Carlyle Asia Partners recently completed the acquisition of a 100 percent stake in KFC Korea from Orchestra Private Equity, the company said in a press release.
"The change in ownership underscores KFC Korea's strong growth potential, and we will work with Carlyle to accelerate our mid- to long-term growth strategy," a KFC Korea official said.
KFC Korea reported sales of 378 billion won ($256 million) last year, extending its record performance for a second consecutive year.
The company said it plans to significantly expand its store network, launch a new mobile application to better meet customer demand, and strengthen marketing efforts to support further growth.
Source: Korea Times News
