Southeast Asian Buyers Circle Korean Franchises as Mom's Touch and Norang Tongdak Sales Loom
Major Southeast Asian companies are pursuing control of South Korean food franchises, with Mom's Touch and Norang Tongdak hiring global investment banks to manage their sales.
Major Southeast Asian companies are showing interest in taking control of South Korean food and beverage franchises with room to expand overseas, according to investment banking sources.
Several franchise companies pursuing control sales — including Mom's Touch and Norang Tongdak — have hired global investment banks as sell-side advisers with Southeast Asian strategic investors in mind as potential buyers. Korean private equity firm KL & Partners selected Citigroup Global Markets Securities to manage the Mom's Touch sale, while Q Capital Partners and Coston Asia handed the Norang Tongdak mandate to BDA Partners and the Development Bank of Japan.
Recent Southeast Asian deals in Korean F&B
| Buyer | Brand acquired | Note |
|---|---|---|
| Minor Group (Thailand) | Bonchon | ~$215 million; roughly 500 stores worldwide |
| Jollibee Group (Philippines) | Shabu All Day | Korean shabu-shabu chain |
| Jollibee Group (Philippines) | Compose Coffee | Korean coffee franchise |
Southeast Asian capital is expected to remain a key variable in Korean franchise M&A, with overseas strategic investors seen as the decisive factor in drawing strong interest.
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