Pacific Alliance Group (PAG), the Hong Kong investment company has entered the bidding for a 100 per cent share of South Korean fast-food business Mom’s Touch & Co, according to reports.
The company was founded in 1998 and has 1,363 stores, the most among Korean fast-food chains. It also has operations outside South Korea in markets including Vietnam. Many other companies had expressed interest in the acquisition, such as Goldman Sachs, Yum!, Brands and CJ Group but none took part in the bidding process.
PAG purchased Gyro Holdings, the operator of a portfolio of restaurant and café brands in Japan last year as part of its strategy to expand in the Asian market.
