Wall Street Ends Higher as Crypto Stocks and Materials Rally 
Tokio Marine Eyes Multibillion-Dollar Suncorp Takeover 
Asian Currencies Slip as Dollar Rebounds on Iran Sanctions 
Dollar Hovers Near Multi-Month Lows as Treasury Buybacks Rattle Markets 
China opens new Arctic trade route – but obstacles will prevent its wider use 
ECB Rate Hike Bets Rise as Inflation Risks Persist 
Oil Prices Edge Higher as US-Iran Sanctions Fuel Supply Concerns 
Unifor Reaches Tentative GM Deal for 4,600 Ontario Workers 
Asian Stocks Slip Ahead of Nvidia Earnings and US Inflation Data 
RBA Debated Rate Hike as Inflation Risks Persist 
Nvidia Eyes Perplexity Investment at $30 Billion Valuation 
SoftBank Plans Record $6.3 Billion Bond Sale to Fund OpenAI Investments 
US Dollar Heads for Worst Week Since July as Fiscal Concerns Mount 
J.P. Morgan Upgrades Diploma, Lifts Price Target to 8,250p 
California Seeks Paramount Divestitures in Warner Bros. Merger 
Adidas, Puma Shares Fall as Dick’s Sporting Goods Cuts Outlook 
Europe EV Sales Surge as High Fuel Prices Drive Demand 
Add as a preferred source on Google
A Twosome Place, a popular coffee chain in South Korea, is reportedly set to be acquired by The Carlyle Group, a Washington, D.C., headquartered private equity firm.
It was reported that the PEF company is planning to buy the no. 2 coffee chain brand in the country for about ₩800 billion or $669 million. The negotiation for the acquisition is said to be in the last stage and as per The Korea Times, the final agreement is already set to be signed soon.
Anchor Equity Partners, a Hong Kong-based private equity firm specializing in middle-market and consolidation investments in Asia, is the current owner of the A Twosome Place franchise and it is in ongoing talks with The Carlyle Group to finalize the deal. With the popularity of the brand and having a strong customer base, it was said that the company is expecting a 100% return of investment in just a few years.
In fact, A Twosome Place’s annual revenue has gone up to more than 10% year-on-year to ₩360 billion last year while its operating profit margin stood at 10%. One of the reasons for its growth is the company’s expansion of its delivery service amid the COVID-19 pandemic. Even with the crisis, the coffee house showed strong performance so it is really profitable.
The very first A Twosome Place was built in Sinchon in Seoul and it was opened in 2002. The coffee chain brand immediately grew until the business exceeded 1,400 branches and dozens are located overseas. It was CJ Foodville, a subsidiary of the CJ Group, that first launched this trendy coffee shop that also offers a range of baked goods.
This will be the first investment of The Carlyle Group in Korea in three years. It previously considered buying another Korean trending bakery brand, the Tous Les Jours, but the deal did not push through.
Meanwhile, it was in August when it was reported that A Twosome Place had been put up for sale. Pulse News reported that the Anchor Equity Partners has been approaching local and foreign companies for the acquisition investment and now, it is close to signing the deal with The Carlyle Group.
