KFC Korea has been acquired by US-based private equity firm, The Carlyle Group, which now looks to expand the restaurant chain’s 200-strong store portfolio in the country.

First announced last December, the now-completed transaction sees Carlyle take a 100 per cent stake in KFC Korea, which operates in South Korea under a master franchise agreement with Yum! Brands.

The stake was purchased from Orchestra Private Equity.

“We are excited to further partner with Yum Brands and work with the management team at KFC Korea to grow this iconic brand in South Korea,” John Kim, partner and head of Carlyle Korea, said.

“With its strong heritage and position in the market, we see significant opportunities for KFC Korea to expand its presence and capitalise on the growing demand for quick-service dining with Korean consumers.” 

Carlyle currently owns A Twosome Place, a dessert cafe chain with more than 1700 stores in South Korea, and KFC in Japan. 

“This partnership with Carlyle marks an exciting milestone for KFC Korea,” Tony Shin, CEO of KFC Korea, added. 

“Carlyle has extensive experience in the quick-service restaurant and F&B sectors, and we look forward to working with the team to drive continued growth and innovation.”