According to industry sources, Orchestra Private Equity has signed a stock purchase agreement to purchase the chicken franchise KFC Korea.
The deal itself was signed last week and it is for a 100 per cent stake in KFC Korea, with Orchestra Private Equity purchasing the franchise from KG Group, a chemical-to-steel company that is based in Seoul. The deal is believed to be worth an estimated 60bn to 70bn won.
The sale comes after KFC Korea had been up for sale for over a year and after the business has struggled to expand its presence in the country according to market observers.
