bhc Chicken Acquires Family Restaurant Outback

[Asia Economy Reporter Moon Hyewon] Chicken franchise company bhc Group is on the verge of acquiring the family restaurant Outback Steakhouse Korea (hereinafter Outback).

SkyLake Equity Partners, the largest shareholder of Outback, announced on the 20th that it has selected bhc Group as the preferred negotiation partner.

The food service industry estimates Outback's valuation at around 200 billion KRW.

Despite the food service industry facing great difficulties due to COVID-19, Outback's sales last year increased by 17.1% compared to the previous year, reaching 297.8 billion KRW.

If bhc Group acquires Outback, it will take a big step closer to its goal of becoming a comprehensive food service company.

bhc, which separated and became independent from Genesis BBQ Group in 2013, has grown its size by successively acquiring Warehouse 43 starting the following year, Soondae soup specialty restaurant Keunmom Halmae Soondaeguk, and beef specialty restaurant Gram Gram.

bhc Chicken, the core of bhc Group, separated from BBQ Chicken in 2013 and currently ranks second in the chicken franchise industry. bhc Chicken's sales increased about fivefold from 82.6 billion KRW in 2013 to 400.4 billion KRW last year.

On this day, Park Hyunjong, chairman of bhc Group, stated, "This year as well, we will leap forward as a comprehensive food service company by securing new growth engines."

This content was produced with the assistance of AI translation services.