VIG Partners to recapitalize Bonchon Buyout fund to carry out $53 mln recapitalization on chicken franchise
Translated by Kim So-in 공개 2021-06-18 06:45:29
이 기사는 2021년 06월 18일 06:40 thebell 에 표출된 기사입니다.
Private equity firm VIG Partners is working on a 60 billion won ($53 million) recapitalization of Korean fried chicken franchise Bonchon.VIG Partners is conducting marketing campaigns to investors to raise 60 billion won, industry sources said Wednesday.
The buyout fund acquired a 55% stake in Bonchon from its founder and chairman, Seo Jin-duk, in 2018. Bonchon specializes in Korean-style fried chicken and runs stores in the United States and Asian countries, including Thailand and the Philippines. It has no store in Korea.
VIG Partners used its third blind-pool fund that closed at 700 billion won to take over Bonchon, with no borrowings. The latest recapitalization marks the first acquisition financing for the chicken franchise.
VIG Partners decided to recapitalize Bonchon as it has shown stable growth over the past three years. The firm has believed it is the right timing to distribute interim returns to existing limited partners.
Bonchon’s revenue increased from 21.9 billion won in 2018 to 29.5 billion won in 2019 and 30.6 billion won in 2020. Its operating profit increased from 9.2 billion won in 2018 to 12 billion won in 2019 and 13.4 billion won in 2020.
The number of stores in the U.S. and Southeast Asia has grown from 350 in 2018 to more than 400 presently. The company aims to increase its total franchise numbers to 1,000 worldwide by 2026. (Reporting by Hee-yeon Han)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
best clicks
최신뉴스 in 전체기사
-
- 우리금융 "롯데손보 M&A, 과도한 가격 부담 안한다"
- 신한캐피탈, 지속성장 포트폴리오 리밸런싱 체계 강화
- 하나금융, ELS 악재에도 실적 선방…확고한 수익 기반
- 하나금융, 자본비율 하락에도 주주환원 강화 의지
- 국민연금, '역대 최대 1.5조' 출자사업 닻 올렸다
- [도전 직면한 하이브 멀티레이블]하이브, 강한 자율성 보장 '양날의 검' 됐나
- [퍼포먼스&스톡]꺾여버린 기세에…포스코홀딩스, '자사주 소각' 카드 재소환
- [퍼포먼스&스톡]LG엔솔 예견된 실적·주가 하락, 비용 절감 '집중'
- [퍼포먼스&스톡]포스코인터, 컨센서스 웃돌았지만 주가는 '주춤'
- 신한금융, ‘리딩금융’ 재탈환에 주주환원 강화 자신감