TheVentures Acquires Management Rights of "Chicken Plus Vietnam"... "Firmly Establishing the K-Food Value Chain Locally"

Early-stage investment firm TheVentures announced on the 12th that it has completed a management rights acquisition (buyout) of the Vietnamese subsidiary of Chicken Plus. There will be no changes in the existing management team or staff, and only the status of the largest shareholder will be changed to TheVentures.

Exterior view of Chicken Plus store in Vietnam

TheVentures formed a project fund dedicated to overseas investment and secured the position of largest shareholder in the subsidiary. Instead of the previous approach focused on acquiring minority stakes, it is now directly deploying its operational capabilities as the largest shareholder.

A major Korean chicken franchise company has joined the project fund as a strategic investor (SI). TheVentures plans to transplant the sauce technology and know-how of the Korean-style chicken franchise business, building on the existing local store network and operating infrastructure.

In line with local market characteristics, the company will focus on opening new, small, delivery-oriented stores, aiming to secure 270 stores across Vietnam within four years. It also plans to pursue vertical integration of the chicken value chain by internalizing the entire process from raw material procurement to production, distribution, and sales through the establishment of its own poultry farms.

TheVentures plans to use this acquisition as a starting point to diversify its revenue model and demonstrate its global operating capabilities. According to Euromonitor and local reports, Vietnam's dining-out market last year was worth about 31 billion dollars (approximately 41 trillion won), growing more than 10% year-on-year. As income levels among people aged 35 and under have risen, delivery demand for Korean food has also surged.

Kim Daehyun, Partner at TheVentures in charge of investments in Vietnam, said, "The core of this acquisition is to create tangible asset value by combining the competitiveness of Korea's dining-out system with local infrastructure in Vietnam," adding, "We will deploy our global network and operational know-how to firmly establish the K-food value chain in the local market and prove a sustainable investment model."

Meanwhile, TheVentures has continued to invest in promising local startups in areas such as logistics data solutions and e-commerce, focusing on Vietnam and Malaysia.

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