[ Courtesy of Hollys Coffee]
A preliminary bidding for South Korea's coffee franchise Hollys Food and Beverage was closed Thursday amid reports that Chinese and foreign investors are interested in the specialty coffee chain.
IMM Private Equity, the largest shareholder, has put its entire stake up for sale. Industry watchers estimate the bidding price will stand between 200 billion won (178 million US dollars) and 300 billion won.
Hollys Coffee opened South Korea's first espresso shop in 1998. Its shops offer espresso, coffee, tea, cold and hot specialty drinks, a variety of pastries and snacks. The franchise has expanded with additional stores in China, Thailand, Vietnam and Malaysia.
Nearly ten domestic and foreign investors have reportedly expressed interest in Hollys, one of the several food and coffee franchises which have been up for sale.
Aju News Lim Chang-won = cwlim34@ajunews.com
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