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Tag: minor

  • Minor Group Takes Global Reins: Acquires Full Ownership of Korean Chain Bonchon

    Minor Group Takes Global Reins: Acquires Full Ownership of Korean Chain Bonchon

    Thailand’s Minor Group is set to acquire the remaining stake in Bonchon, a South Korean restaurant chain, thereby becoming its global owner. Headquartered in Bangkok, Minor Group has a significant presence in the restaurant industry with ownership of The Pizza Company, along with being a key franchisee for Burger King and Dairy Queen in Thailand. Since 2019, it has successfully managed over 100 Bonchon outlets across the country.

    A Strategic Acquisition

    Minor Group signed a stock purchase agreement on Monday with VIG Partners, a South Korean domestic private equity fund manager, to take over Bonchon International. It is reported that the sale includes the principal equity owned by VIG Partners as well as the stake held by Bonchon’s founder, Seo Jin-deok.

    Upon the finalization of this transaction, Minor Group will hold complete ownership of Bonchon International. Although the precise transaction amount remains undisclosed, the estimated corporate value of Bonchon is around 300 billion won or approximately US$212 million.

    Established in Busan, South Korea, in 2002, Bonchon embarked on its international journey in 2006 with its first venture in the United States. Since then, it has expanded into roughly 10 markets across North America, Asia, and Europe.

    VIG Partners became the largest shareholder of the restaurant chain in 2018 after purchasing a 55 percent stake for around 60 billion won. The remaining 45 percent stake is owned by Seo, who currently serves as the CEO of Bonchon International.

    The transaction between all parties involved is expected to be concluded by the end of the current month.

    Questions & Answers

    Who is acquiring the remaining stake in Bonchon?
    The Minor Group from Thailand is acquiring the remaining stake in Bonchon, resulting in full ownership of the South Korean restaurant chain.

    What is the estimated corporate value of Bonchon?
    The corporate value of Bonchon is cited to be around 300 billion won or approximately US$212 million.

    Who currently holds the majority stake in Bonchon International?
    Before the acquisition, the majority stake in Bonchon International was held by VIG Partners, a South Korean private equity fund manager. They held 55 percent stake whereas the remaining 45 percent stake was owned by Bonchon’s founder, Seo Jin-deok.

  • Richard Hinson Takes Helm As Ceo Of Minor Dkl, Sets Stage For Coffee Club Expansion

    Richard Hinson Takes Helm As Ceo Of Minor Dkl, Sets Stage For Coffee Club Expansion

    Minor DKL Food Group, the Australian subsidiary of Thai-based company Minor International, has recently announced the appointment of Richard Hinson as their new CEO. This strategic move sets the stage for the next expansion phase of The Coffee Club.

    Hinson’s Background and Future Roles

    Before joining Minor DKL, Hinson held several high-ranking positions, managing intricate supply chains, high-volume consumer retail, and multi-location hospitality operations. His previous roles involved managing turnaround programs at Retail Food Group and aiding Countrywide in becoming a prominent foodservice distributor in Australia.

    Hinson emphasized the importance of people-centered operations in the success of cafés. “The heart of a successful café lies in its people – our franchise partners, their teams, and the customers who have made The Coffee Club a part of their daily routine,” Hinson stated.

    He pledged his commitment towards bolstering these partnerships and creating a culture that revolves around collaboration and innovation. Hinson aims to ensure a thriving environment for franchise partners and a personalized, memorable experience for every customer. He believes that such an approach will help continue to cultivate a café network that Australians can love and trust for generations to come.

    Hinson’s Plans for The Coffee Club

    In his new role with The Coffee Club, Hinson’s focus will be on strengthening franchise partnerships, boosting operational efficiency, and enhancing the customer experience. He has expressed his intention to support the launch of the new grab-and-go concept, Three Stories Café, which recently opened its first store in South Brisbane.

    Questions & Answers

    What is Richard Hinson’s background?

    Richard Hinson has a wealth of experience in the retail and hospitality sectors, having held senior leadership roles where he managed complex supply chains, high-volume consumer retail, and multi-site hospitality. He has also managed turnaround programs and helped establish a leading foodservice distributor.

    What is Hinson’s primary focus as CEO of Minor DKL Food Group?

    Richard Hinson aims to strengthen franchise partnerships, improve operational efficiency, and enhance the customer experience at The Coffee Club. He also plans to support the rollout of the new grab-and-go concept, Three Stories Café.

    What is the ultimate goal of Hinson’s strategy for The Coffee Club?

    Hinson’s objective is to create a thriving environment for franchise partners and provide a personalized, memorable experience for every customer. He believes that this approach will help build a café network that Australians will continue to love and trust for the years to come.