SEOUL, KOREA- Mirae Asset Global Investments is moving to acquire The Coffee Bean & Tea Leaf, a specialty coffee chain with the headquarters in Los Angeles, California.According to industry sources on August 6, Mirae Asset Partners No. 6 private equity fund is in the works to take over the head office of the coffee franchiser. A Mirae Asset Global Investments official said of the deal, "Although we are working on it negotiating with the company, there is nothing definite as of yet."
Established in 1963, The Coffee Bean has over 900 outlets in 23 countries including 200 in Korea. The purchase price for the chain is estimated at 400 to 500 billion won.
In 2011, Mirae Asset acquired sportswear maker Fila Korea and Titleist, a golf equipment and apparel product brand. In May this year, the company purchased "225 West Wacker," a 31-story premium office building in West Loop, Chicago,at 240 billion won.
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