Standard Chartered Private Equity Invests in Smoothies Korea (Asia)

Source: The Wall Street Journal  |  Author: Isabella Steger

Standard Chartered Private Equity (SCPE) has partnered with South Korea’s national pension fund National Pension Services (NPS) to invest US$45.5 million for a 48 percent stake in Smoothies Korea, the Korean franchise of U.S.-based beverage chain Smoothie King. Standard Chartered will invest US$26.4 million for a 28 percent stake in the company, with NPS investing US$19.1 million for a 20 percent stake. Smoothies Korea, which operates 100 stores across the country, plans to use the new capital to acquire U.S. parent Smoothie King and to expand into China and Singapore.