The company is acquiring the remaining interest in Bonchon in a deal that will make it the global owner of the South Korean restaurant chain.
The Bangkok-based group owns The Pizza Company and is a major franchisee of Burger King and Dairy Queen in Thailand. It has operated more than 100 Bonchon stores in the country since 2019.
Minor on Monday signed a stock purchase agreement with South Korea’s domestic private equity fund manager VIG Partners to take control of Bonchon International. The sale reportedly includes the controlling equity held by VIG Partners and the stake held by Bonchon founder Seo Jin-deok.
Upon completion of the deal, Minor Group will own 100 per cent of Bonchon International. The transaction price was not disclosed, but the market has cited Bonchon’s corporate value at around 300 billion won (US$212M).
Bonchon was founded in Busan, South Korea, in 2002. It began its overseas expansion with a US debut in 2006 and is now present in nearly 10 markets across North America, Asia and Europe.
