Carlyle to Acquire KFC Korea

The deal builds on Carlyle's strong F&B and quick-service restaurant experience in Asia and aims to accelerate KFC Korea's growth and expansion in South Korea

Seoul, South Korea, December 22, 2025 - Global investment firm Carlyle (NASDAQ: CG) today announced that an affiliated entity of Carlyle Asia Partners (CAP) has entered into a definitive agreement to acquire a 100% stake in KFC Korea. Terms of the transaction are not being disclosed.

KFC Korea operates the KFC brand in South Korea under a master franchise agreement with Yum! Brands, the world's largest restaurant chain company with more than 55,000 restaurants. Since opening its first store in Seoul in 1984, KFC Korea has grown to operate over 200 stores nationwide.

Carlyle seeks to leverage its significant experience in the food and beverage (F&B) and quick-service restaurant sectors in Asia to work with KFC Korea's management team to help accelerate new store openings, enhance marketing capabilities, and drive menu innovation to meet evolving consumer preferences in Korea.​ Carlyle also owns KFC Japan and looks to further strengthen its strategic relationship with Yum! Brands through this transaction.

John Kim, Partner and Head of Carlyle Korea, said: "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. With its strong heritage and position in the market, we see significant opportunities for KFC Korea to expand its presence and capitalize on the growing demand for quick-service dining with Korean consumers."

Tony Shin, CEO of KFC Korea, said: "This partnership with Carlyle marks an exciting milestone for KFC Korea. 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. Together, we aim to further elevate the exceptional KFC experience that Korean customers have come to know and love."​

Carlyle has extensive investment experience in the restaurant, food and consumer sectors, including quick-service restaurant franchises, both in Asia and globally. Carlyle currently owns A Twosome Place, a leading premium dessert café chain with over 1,700 stores in South Korea, and KFC in Japan. Previous portfolio companies in the sector have included McDonald's China and Japanese restaurant chain operator Chimney, among others.

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About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and operates through three segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $474 billion of assets under management as of September 30, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,400 people in 27 offices across four continents. Further information is available at carlyle.com. Follow Carlyle on LinkedIn at The Carlyle Group and on X at @OneCarlyle.

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