OrchestraPE Acquires Chicken Franchise KFC

[Asia Economy Reporter Kwon Jae-hee] Private equity firm Orchestra Private Equity (PE) is acquiring the chicken franchise KFC Korea.

Previously, Orchestra PE also acquired Banolim Food, the pizza franchise operator of Banolim Pizza.

According to the food industry on the 12th, Orchestra PE signed a stock purchase agreement (SPA) yesterday to acquire all shares of KFC Korea from KG Group.

The transaction size is reported to be between 60 billion and 70 billion KRW.

KG Group holds 100% of KFC Korea's shares through its affiliates.

KG Group acquired KFC Korea from CVC Capital Partners in 2017 and has been attempting to sell it since last year.

Additionally, Orchestra PE is known to have signed a franchise agreement with Yum! Brands, the U.S.-based operator of KFC.