Carlyle announced an affiliated entity of Carlyle Asia Partners has entered into a definitive agreement to acquire a 100% stake in KFC Korea, as the global investment firm looks to build on its food and beverage and quick-service restaurant investing experience in Asia and support the brand’s next phase of growth in South Korea. Terms of the transaction were not disclosed.
KFC Korea operates the KFC brand in South Korea under a master franchise agreement with Yum! Brands, which Carlyle described as the world’s largest restaurant chain company with more than 55,000 restaurants. The business opened its first store in Seoul in 1984 and has since expanded to more than 200 stores nationwide.
Carlyle said it plans to work with KFC Korea’s management team to accelerate new store openings, strengthen marketing capabilities, and drive menu innovation to align with evolving consumer preferences in Korea. The firm also noted it owns KFC Japan and expects the transaction to further strengthen its strategic relationship with Yum! Brands.
The firm pointed to its broader track record in restaurant, food and consumer investments, including current ownership of A Twosome Place in South Korea and prior sector investments that have included McDonald’s China and Japanese restaurant chain operator Chimney.
KEY QUOTES:
“We are excited to further partner with Yum! Brands and work with the management team at KFC Korea to grow this iconic brand in South Korea. With its strong heritage and position in the market, we see significant opportunities for KFC Korea to expand its presence and capitalize on the growing demand for quick-service dining with Korean consumers.”
John Kim, Partner and Head of Carlyle Korea
“This partnership with Carlyle marks an exciting milestone for KFC Korea. Carlyle has extensive experience in the quick-service restaurant and F&B sectors, and we look forward to working with the team to drive continued growth and innovation. Together, we aim to further elevate the exceptional KFC experience that Korean customers have come to know and love.”
Tony Shin, CEO of KFC Korea
