M&A Deal Summary

The Carlyle Group and CDIB Capital Group Acquire Kentucky Fried Chicken Japan

On February 27, 2024, private equity firms The Carlyle Group and CDIB Capital Group acquired restaurant Kentucky Fried Chicken Japan from Mitsubishi

Acquisition Highlights
  • This is The Carlyle Group’s 12th and CDIB Capital Group’s 1st transaction in the Restaurants sector.
  • This is The Carlyle Group’s 29th and CDIB Capital Group’s 1st transaction in Japan.

M&A Deal Summary

Date 2024-02-27
Target Kentucky Fried Chicken Japan
Sector Restaurants
Buyer(s) The Carlyle Group
CDIB Capital Group
Sellers(s) Mitsubishi
Deal Type Divestiture

Target

Kentucky Fried Chicken Japan

Kanagawa, Japan
Kentucky Fried Chicken Japan operates the KFC restaurant chain in Japan, serving fried chicken and related fast-food menu items. Kentucky Fried Chicken Japan was founded in 1970 and is based in Kanagawa, Japan.

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Buyer(S) 2

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 742 of 749
Sector: Restaurants M&A 12 of 12
Type: Divestiture M&A Deals 71 of 74
Country: Japan M&A 29 of 30
Year: 2024 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-15 KB

Seoul, South Korea

KB engaged in banking business, investment & securities, equity and derivatives brokerage services , life insurance and asset management. KB was founded in 2008 and is based in Seoul, South Korea.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-21 SER Group

Bonn, Germany

SER Group is a European enterprise content management solutions (ECM) software company. SER began as a provider of electronic archiving and has grown into a supplier of state-of-the-art ECM solutions to companies throughout Europe. SER Group was founded in 1984 and is headquartered in Bonn, Germany.

Sell -
Buyer

CDIB Capital Group

Hong Kong, China

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CDIB Capital International Corp. is the overseas investment arm of China Development Financial. CDIB makes direct investments in Asian private equity, private debt and special situations opportunities. The Firm's private equity group looks to invest $20 to $75 million in companies serving large markets, with proven management focused on 'sustainable growth' and profitability. CDIB primarily makes growth investments, but will also consider middle-market buyouts, recapitalizations, corporate divestitures, and mid-to-late stage venture capital transactions. CDIB is based in Hong Kong with additional offices in Taipei, Shanghai, Seoul and San Francisco.


DEAL STATS #
Overall 20 of 20
Sector: Restaurants M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: Japan M&A 1 of 1
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-24 World Gym

Taichung, Taiwan

World Gym is the owner and operator of the fitness center chain. World Gym has become the industry by offering affordable, monthly dues memberships in state-of-the-art, full service health clubs averaging 45,000 square feet in size. World Gym was founded in 2001 and is based in Taichung, Taiwan.

Sell -

Seller(S) 1

SELLER

Mitsubishi

Tokyo, Japan

Category Company
Founded 1950
Sector Diversified
Employees62,062
Revenue 18.62T JPY (2025)
DESCRIPTION

Mitsubishi is a diversified holding company that engages in global environmental & infrastructure, business service, industrial finance, logistics & development, energy business, metals, machinery, chemicals, and living essentials business. Mitsubishi was founded in 1950 and is based in Tokyo, Japan.


DEAL STATS #
Overall 7 of 7
Sector: Restaurants M&A 1 of 1
Type: Divestiture M&A Deals 6 of 6
Country: Japan M&A 3 of 3
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-17 Kyoto Fusioneering

Tokyo, Japan

Kyoto Fusioneering is a technology startup that specializes in developing state-of-the-art technologies for commercial fusion reactors, including gyrotron systems, tritium fuel cycle technologies, and breeding blankets for tritium production and power generation. It collaborates with public and private fusion developers globally, striving to establish fusion as the ultimate energy source for humanity. Kyoto Fusioneering was formed in 2019 and is based in Tokya.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-13 Copper World

Arizona, United States

Copper World owns the fully-permitted Copper World project and is based in Arizona.

Buy -