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South Korean coffee chain A Twosome Place sold

Carlyle Group said on Friday an affiliate had agreed to acquire South Korean coffee and cake chain A Twosome Place from private equity fund Anchor Equity Partners.

A Carlyle spokesperson declined to comment on price.

A special investment vehicle in which Anchor was a participant had a 73.89 per cent stake in Twosome as of end-2020, after having bought an additional 45 per cent stake in 2019 for 202.5 billion won (US$171.27 million) from CJ Foodville, according to company filings.

A Twosome Place was established in 2002 and currently operates over 1,400 stores, Carlyle said in a statement.

Carlyle intends to work with management to “build upon the strong franchise network and capture the significant white space in the Korean market,” said John Kim, Managing Director at Carlyle.

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