KFC Korea said on the 27th that it has welcomed global investment firm Carlyle as its new investment partner and will accelerate growth and expansion in the domestic market.
The acquisition was carried out by an affiliate of Carlyle Asia Partners, an Asia investment fund under Carlyle, acquiring 100% equity in KFC Korea from Orchestra Private Equity (Orchestra PE), and after signing a stock purchase agreement (SPA) in Dec. last year and going through related procedures, it was finalized on the 17th.
KFC Korea posted 378 billion won in revenue last year, achieving record results for the second straight year. Average daily sales per store rose 55%, and the number of customers increased 50%.
KFC said it plans to maintain its existing business direction and brand operating principles regardless of the change in governance. It will also expand stores more aggressively while pursuing development of a new app to improve customer convenience.
It plans to expand brand touchpoints through various marketing activities such as collaborations and pop-ups and actively increase new customer inflows.
KFC Korea explained that synergies are also expected by leveraging global dining brand operating capabilities and networks, as Carlyle holds KFC Holdings Japan and A TWOSOME PLACE.
Chief Executive Shin Hosang of KFC Korea said, "This change in governance is the result of recognizing the trust and growth potential KFC Korea has built in the Korean market," adding, "Together with Carlyle, we will put our mid- to long-term growth strategy into full swing while continuing unwavering trust with both customers and partners."