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Minor Food, Serruya Private Equity to acquire Bonchon
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Minor Food, a wholly owned subsidiary of Minor International, is set to acquire Bonchon International alongside Serruya Private Equity (SPE), taking ownership of the Korean fried chicken brand and its operations outside the Americas.
Key facts
- Minor Food will invest US$50 million in the deal, which is expected to close in August 2026
- Minor Food, a wholly owned subsidiary of Minor International, is set to acquire Bonchon International alongside Serruya Private Equity (SPE), taking ownership of the Korean fried chicken brand and its operations outside the Americas.
- Bonchon was founded in Busan, South Korea, in 2002 and opened its first US restaurant in 2006
- The brand has since grown into a franchise network of about 500 restaurants worldwide, known for its double-fried Korean fried chicken and proprietary sauces.
Summary
Minor Food will invest US$50 million in the deal, which is expected to close in August 2026. Following completion, Minor Food will own Bonchon’s business globally outside the Americas, while SPE will own and operate the business across the Americas.
The acquisition will move Minor Food from being Bonchon’s master franchisee in Thailand to becoming the brand’s owner across markets outside the Americas. Minor Food is currently Bonchon’s largest master franchisee by system-wide revenue.