Keystone Partners to acquire Yeokjeon F&C (Yeokjeon Halmeoni Beer) for KRW 100bn
- Deal value
- $69m
- Stake
- —
- Implied 100%
- —
- Revenue
- $46m
- Op. income
- $13m
- Multiples
- —
2021 별도 · DART-verified
2021 별도 · DART-verified
DART 20220414000734
- Target
- Yeokjeon F&C (Yeokjeon Halmeoni Beer) · Beer pub franchise
- Buyer
- Keystone Partners · FI
- Seller
- —
- Structure
- —
- Announced
- May 11, 2022
- Closed
- —
- Stage
- Announced
Target
Yeokjeon F&C operates the draft-beer franchise Yeokjeon Halmeoni Beer, founded in Iksan, which reached 800 franchise stores nationwide in April 2022. It was reported to have 2021 revenue of KRW 66bn and operating profit of KRW 19.1bn.
Deal rationale
According to Jeonbuk Ilbo, founder-CEO So Jong-geun said he decided to sell because the company's rapid growth required professional help, and Keystone reportedly plans to raise value by adding stores and new menus. The Fact reported Keystone would fund the deal from its newly formed KRW 530bn 4th blind fund, citing cash generation from 800+ stores and no store closures during COVID-19; Keystone plans bolt-ons and new businesses.
| Revenue | $46m |
| Operating income | $13m |
| EBITDA | — |
| Net income | — |
2021 별도 · DART-verified · 20220414000734
Press coverage
- 매일경제 (2022-05-11): “맥주프랜차이즈 ‘역전할머니’ 약1천억에 인수”
- 한국벤처캐피탈협회 M&A 뉴스레터 (2022-06): “사모펀드 케이스톤파트너스, 맥주프랜차이즈 ‘역전할머니’ 약1천억에 인수”
- 전북일보 (2022-05-15): “회사 규모가 빠른 속도로 커지자 전문적인 도움이 필요하다고 판단해 매각을 결정했으며”
- 더팩트 (2022-05-14): “5300억 원 규모의 4호 블라인드펀드 … 1000억 원 중반대로 알려졌다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.