CJ’s coffee business attracts US$122 mln investment

SEOUL, :CJ Foodville, the restaurant arm of food and entertainment conglomerate CJ, has attracted 130 billion won (US$121.8 million) for its cafe chain as it moves to develop the brand's global competitiveness, industry sources said Wednesday.

Anchor Equity Partners, Canada Pension Plan Investment Board (CPPIB) and GIC are known to have contributed to the investment in A Twosome Place, which is set to be spun off into a separate affiliate next month, according to the sources.

The investment will be used to strengthen A Twosome Place's brand competitiveness, they said. There are currently 940 A Twosome Place cafes in South Korea, along with another 40 abroad.

Source: Yonhap News Agency

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