CJ Groups restaurant business unit CJ Foodville has sold its flagship coffeehouse chain A Twosome Place as part of the its business restructuring to Hong Kong-based private equity firm Anchor Equity Partners, the firm confirmed Wednesday.
The sale involved 45 percent stake held by CJ Foodville in A Twosome Place for 202.5 billion won ($173.3 million). When the deal is finalized, the sell-off will increase the PEFs share to 85 percent as it already owns a 40 percent stake in the coffee chain.
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| (CJ Foodville) |
CJ Foodville said the sale is aimed at selling a well-performing brand for debt redemption and to focus on the management of its core businesses.
A Twosome Place is one of few CJ Foodville brands that is profitable. It currently op…
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