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.
