Bonchon Acquired by Minor Food and Serruya Private Equity in Global Ownership Split

Bonchon, the global Korean fried chicken brand, has announced its acquisition by Minor Food (MF) and Serruya Private Equity (SPE) from existing shareholders VIG Partners and the Seo family. The two buyers now own the Bonchon brand and operations across complementary territories — Minor Food owning the business globally outside the Americas, and Serruya Private Equity owning it throughout the Americas.

Who the New Owners Are

Minor Food, a wholly owned subsidiary of Minor International (MINT), is one of Asia's largest restaurant groups and the current master franchisee of the Bonchon brand in Thailand. Toronto-based Serruya Private Equity is the Serruya family's private investment platform with more than three decades of experience building and operating consumer and franchise businesses across North America and internationally.

"Bonchon's success is driven by passionate franchise partners who believe in the brand and its potential. Minor Food and SPE will enhance our franchise network and help us accelerate our growth, bringing Bonchon's iconic flavors and experience to even more guests." — Suzie Tsai, CEO, Bonchon

Growth Plans on Both Sides of the Pacific

SPE plans to invest in Bonchon's existing U.S. platform while pursuing disciplined expansion across the Americas, with priority growth markets including Canada, Mexico and Chile alongside continued development in existing U.S. markets.

For the global franchising community, the split-ownership structure is a notable template: rather than a single acquirer, the deal divides the world's largest franchise markets between two operators with deep regional expertise — a structure likely to shape future cross-border brand transactions.