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Biz News Korea(Eng)
GongCha Korea considers buying parent firm in Taiwan
- Collected
- 2016.04.19
- Distributed
- 2016.04.21
- Source
- Go Direct
According to GongCha Korea on Sunday, it is currently under negotiations with its Taiwanese headquarters Royal Tea Taiwan Co. to buy the parent company. An official purchasing agreement, however, has not yet been made.
GongCha Korea has been enjoying much popularity in the country after opening its first store in 2012 when it acquired franchise license from Royal Tea Taiwan. Currently, it manages 380 franchise stores across the country. Globally, there are about 1,100 Gong Cha stores in 19 countries including the United States and Canada.
Ever since GongCha Korea was acquired by Unison Capital Inc., a private equity fund based in Japan, in 2014, it has been putting out efforts to target overseas markets. It set up Gong Cha Japan. The latest plan to acquire its global headquarters in Taiwan is seen as an extension to its efforts to expand business globally.
GongCha Korea is expected to secure necessary funds to acquire the parent firm by having Unison Capital purchase its newly issued stocks. GongCha Korea is expected to become the country’s second food and beverage franchise to acquire the global headquarters after Smoothie King Korea purchased the U.S.-based beverage brand in 2012.
By Seo Jin-woo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]