SEOUL, KOREA - Genesis BBQ Group plans to sell its chicken brand BHC. Genesis BBQ Group recently signed an agreement with Hong Kong's equity fund to sell its chicken brand for 100 billion won. A formal contract is expected to be signed soon.
According to the franchise industry, Genesis BBQ decided to sell its affiliated BHC to secure funds needed to strengthen the group's overseas operations.
BBQ attempted to go for an IPO for BHC but these efforts ended in a failure in early last year. BBQ, accordingly, shifted its strategy towards selling BHC.
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