[Courtesy of MPK]
South Korea's major pizza chain, Mr. Pizza Korea (MPK) Group, has agreed with India's fast food chain Cafe Buddy's to set up a franchise joint venture.
MPK said it would own 49 percent of the joint venture while the remainder will be controlled by its Indian partner. The two plan to sign a formal contract in Seoul next month.
MPK is a restaurant group based on a handmade muffin and coffee franchise, Italian buffet restaurants, and a premium pizza chain with hundreds of outlets at home and abroad. Its sales fell 15 percent on-year to 122 billion won (106 million US dollars) last year due to competition.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
