April 26, 2024

• 

[THE INVESTOR] MPK Group announced on Dec. 6 that it has signed an agreement with India’s Café Buddy’s to set up a joint venture to operate Mr. Pizza franchise in India.

The food and dining companies will invest a combined 2.3 billion won (US$1.96 million) and MPK will own 49 percent stake. 

They will open five branches in the first half of next year starting with the first one in New Delhi, and expand to 100 outlets by 2020.

This is the first time a South Korean food service company is launching in India.

Mr. Pizza is seeking to make India one of its two major overseas markets along with China where it plans to open an additional 50 outlets, said the company.

By Hwang You-mee (glamazon@heraldcorp.com)