Seoul: U.S. private equity firm The Carlyle Group has acquired KFC Korea, the operator of KFC restaurants in South Korea, as it seeks to drive aggressive expansion in Asia's fourth-largest economy, KFC Korea said Monday.

According to Yonhap News Agency, Carlyle Asia Partners recently completed the acquisition of a 100 percent stake in KFC Korea from Orchestra Private Equity, the company said in a press release. "The change in ownership underscores KFC Korea's strong growth potential, and we will work with Carlyle to accelerate our mid- to long-term growth strategy," a KFC Korea official stated.

KFC Korea reported sales of 378 billion won (US$256 million) last year, continuing its record performance for a second consecutive year. The company plans to significantly expand its store network, launch a new mobile application to better meet customer demand, and strengthen marketing efforts to support further growth.