This article was published on Aug. 1, 2025, at 1 p.m. on the ChosunBiz RM Report site.
Private equity fund JKL Partners has virtually completed its acquisition of the London Bagel Museum with approval from the Fair Trade Commission.
On the 1st, industry sources reported that the Fair Trade Commission approved the merger related to JKL Partners' acquisition of LBM on the 29th of last month. LBM is a restaurant brand company that operates the London Bagel Museum, Artist Bakery, and Cafe Layered.
Previously, JKL signed a stock purchase agreement (SPA) with LBM for a price in the mid-2000 billion won range last month. About 10 firms, including Inias Private Equity, strategic investors (SI), and financial investors (FI), participated in the acquisition bid, but JKL, which secured funding, was selected as the final preferred bidder.
Last year, LBM recorded revenue of 79.6 billion won and operating profit of 24.3 billion won, marking increases of 121.1% and 91.3%, respectively, compared to the previous year. During the same period, net profit also rose to 20.4 billion won, increasing by 80.5%, showing a steep growth trend. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached 27.1 billion won, with an EBITDA margin of 34%. High profitability like this in the food and beverage industry is considered rare.
The Fair Trade Commission approved this merger unconditionally, determining that it would not result in competitive restrictions within the food and beverage and restaurant sectors. The commission reviewed market share, entry barriers, and other factors comprehensively and concluded that there were no significant concerns regarding competition.
The Fair Trade Commission determined that there were no significant concerns regarding competition after a comprehensive review of market share, entry barriers, and other factors. The market sees this acquisition as a way for JKL to expand its presence in the domestic premium restaurant brand market while actively contributing as an investor to the global expansion of K-food.
The London Bagel Museum opened its first store in Anguk, Seoul, in September 2021. The founder created the brand name by combining the words 'London', 'Bagel', and 'Museum' and quickly gained recognition through a unique concept and word-of-mouth. Since then, the company has expanded its stores in major areas like Dosan, Jamsil, Jeju, and Yeouido, and is now actively pursuing overseas expansion in Japan and Singapore.