Standard Chartered Private Equity has led a $48 million joint investment in Mad for Garlic. The business is an Italian-style wine bistro of Korean origin.
Standard Chartered Private Equity (“SCPE”) has successfully led a USD48 million joint investment in Mad for Garlic, an Italian wine bistro of Korean origin.
Mad for Garlic is a unique Italian wine bistro, which emphasises the use of garlic as the main ingredient in its cuisine. The restaurant has over 40 food items and over 100 varieties of wines and drinks on its menu. Today, there are 29 Mad for Garlic restaurants in Korea, and four restaurants across Singapore, Philippines and Indonesia. Mad for Garlic plans to actively expand its restaurant network across Korea as well as overseas in countries including China, Hong Kong, Vietnam and Taiwan.
Mad for Garlic was introduced in 2001 by Sun At Food, Korea’s leading multi-brand dining service provider. Sun At Food (formerly a restaurant business division of Seoul Tower Hotel) was established as an independent casual dining service provider in 1995. Since its establishment, Sun At Food has positioned itself as a global multi-brand dining service provider that offers a wide range of cuisine from Italian to Chinese and Korean. Sun At Food currently operates five own brands (Mad for Garlic, SICHUAN HOUSE, Morac, Bistro Seoul and Porkcook) and two franchised brands (Celeb de TOMATO, TONY ROMA’S).
Taeyub Kim, Managing Director and Head of Korea at SCPE, said, “Mad for Garlic is a fast growing Italian chain restaurant that caters to the increasingly discerning food palettes of people in Asia. With Standard Chartered’s long heritage in Asia, we identify with the Company’s philosophy and ambitions. We look forward to bringing our management expertise to help the business as it continues the growth trajectory in Asia and internationally.”
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For more information, please contact:
Standard Chartered Bank
Tel: +65 6596 9284
About Standard Chartered Private Equity
Standard Chartered Private Equity (“SCPE”) is the private equity arm of Standard Chartered Bank. SCPE invests in companies in need of expansion capital or acquisition finance, and in management buy-outs. SCPE focuses on companies whose principal operations and management are located in Asia, Africa or the Middle East. It is an active partner that provides board-level strategic advice and access to the international network of Standard Chartered Bank. SCPE Korea currently has investments of over USD 800 million in Korea.