UCK Partners Acquires Bingsu Franchise Sulbing
Private equity firm UCK Partners is acquiring the shaved ice franchise Sulbing.
According to the investment banking (IB) industry on the 29th, UCK Partners recently signed a stock purchase agreement (SPA) with Sulbing's major shareholder. UCK Partners will purchase approximately 80% of the shares held by the major shareholder. Sulbing, established in 2013, is a shaved ice franchise company with about 600 stores nationwide.
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The deal size is reported to be around 130 billion KRW. Previously, UCK Partners had experience acquiring the milk tea franchise Gongcha Korea.
This content was produced with the assistance of AI translation services.
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