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Tag: us-based

  • US-Based Carlyle Group Acquires KFC Korea: Sets Sight on Nationwide Expansion

    US-Based Carlyle Group Acquires KFC Korea: Sets Sight on Nationwide Expansion

    The US-based private equity firm, The Carlyle Group, has successfully acquired KFC Korea. With this acquisition, the firm aims to expand the existing 200-store portfolio of the popular restaurant chain in South Korea.

    The deal, which was initially announced in December, has now been finalized, with Carlyle gaining full ownership of KFC Korea. KFC Korea operates in South Korea under a master franchise agreement with Yum! Brands. The Carlyle Group bought the stake from Orchestra Private Equity.

    Envisioning Growth and Expansion

    John Kim, a partner and the head of Carlyle Korea, expressed enthusiasm about the partnership with Yum Brands. Kim said that Carlyle is eager to work with KFC Korea’s management team to grow the iconic brand in South Korea.

    Kim spoke highly of KFC Korea, stating that the brand’s strong heritage and market position make it ripe for expansion. He also mentioned the growing demand for quick-service dining among Korean consumers, which KFC Korea could effectively cater to.

    Carlyle’s current holdings include A Twosome Place, a dessert cafe chain boasting over 1700 stores in South Korea, as well as KFC in Japan.

    An Exciting Milestone

    Tony Shin, CEO of KFC Korea, also voiced his excitement about the partnership with Carlyle. He highlighted Carlyle’s extensive experience in the quick-service restaurant and F&B sectors, expressing optimism that the partnership will drive continued growth and innovation.

    Questions & Answers

    Who has acquired KFC Korea?
    The Carlyle Group, a US-based private equity firm, has acquired KFC Korea.

    What is the Carlyle Group’s plan for KFC Korea?
    The Carlyle Group plans to expand the restaurant chain’s existing 200-store portfolio in South Korea.

    Who previously owned the stake in KFC Korea that The Carlyle Group purchased?
    The stake was purchased from Orchestra Private Equity.

  • US-based Rover Group Acquires Mad Paws For $62m, Excludes Associated Brands

    US-based Rover Group Acquires Mad Paws For $62m, Excludes Associated Brands

    Mad Paws, a pet services provider, has agreed to a takeover by US-based Rover Group in a deal valued at around $62 million. The planned acquisition will see Rover obtain complete ownership of Mad Paws through a scheme of arrangement, with each Mad Paws shareholder receiving $0.14 per share in cash. This offer reflects an 87% premium on the closing price of Mad Paws shares as of Monday. The deal puts the transaction equity value at $62 million.

    Deal Specifics

    Rover Group’s interest lies solely in the online marketplace business of Mad Paws, and does not include its associated brands, namely the online pet pharmacy Pet Chemist, pet treat enterprise Waggly, and e-commerce brand Sash. Consequently, Mad Paws has agreed to sell its Pet Chemist division to VetPartners Australia for approximately $13 million and terminate the operations of Sash and Waggly. Upon finalization of the Pet Chemist sale, Howard Humphreys will step down from his role as an executive director of Mad Paws.

    Looking Ahead

    The CEO, executive director, and co-founder of Mad Paws Group, Justus Hammer, expressed his enthusiasm for the impending partnership with Rover. He stated that the company takes pride in the community of pet enthusiasts it has built over the last decade, and looks forward to leveraging Rover’s expertise to continue advancing towards their shared objective.

    Mad Paws, which was established in 2014, operates a pet care marketplace that enables users to find and offer pet sitting, hosting, walking, training, and grooming services. Even after the acquisition, the company plans to continue to function independently, retaining its own brand identity and Sydney-based operations under Hammer’s leadership.

    The completion of the deal is subject to various customary conditions, including approval from shareholders, the court, and the Foreign Investment Review Board (FIRB).

    Rover, founded in 2011 and stationed in Seattle, runs an online marketplace for pet care, with a presence in 16 countries across North America and Europe.

    Questions & Answers

    What is the valuation of the Mad Paws acquisition by Rover Group?
    The deal is valued at approximately $62 million.

    What happens to Mad Paws’ associated brands after the acquisition?
    Mad Paws’ Pet Chemist division will be sold to VetPartners Australia and the operations of Sash and Waggly will be terminated.

    What is the future of Mad Paws following the acquisition?
    Post-acquisition, Mad Paws plans to continue operating independently, maintaining its brand identity and base in Sydney under the leadership of Justus Hammer.