SEOUL, KOREA- Hollys F&B, which runs a specialty coffee chain Hollys Coffee, announced on July 4 that it signed a managerial right transfer agreement with a Korean private equity fund IMM Private Equity.
Under terms of the agreement, Hollys F&B will be given a 100-billion-won investment from IMM Private Equity.
Thanks to this agreement, IMM emerged as the largest shareholder of Hollys F&B. The management of Hollys F&B, however, will remain unchanged.
Hollys F&B launched its Hollys Coffee in 1998 and now runs 400 stores throughout the country. Hollys F&B also runs a total of nine overseas locations, including three in China.
With the latest investment, Hollys Coffee plans to shift the way it launches into overseas markets from the current master franchise scheme toward direct investment, while expanding the number of its direct and indirect chains at home.
