IMM will take a majority stake in the company, with management holding the remainder.
The firm had previously been reported to be seeking a controlling stake in the business.
Hollys F&B launched in 1998 has 400 outlets in South Korea, as well as nine overseas, including three in China. South Korea is currently ranked among Starbucks’ top ten international markets.
Since launching in 2001, IMM has raised KRW 714bn ($620m) in funds and exited KRW217bn ($189m)
Copyright © 2013 AltAssets