Who is ultimately owned and controlled by VIG Private Equity Fund III?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
We are directly wholly owned by Bonchon U.S.A., Inc. ("Bonchon USA"), a New York corporation formed in December, 2006 with a principal business address at 15660 North Dallas Parkway, Suite 1150, Dallas, TX 75248. Bonchon USA is wholly owned by Bonchon International. Bonchon International is majority-owned and controlled by BPlus Investment Holdings Co., Ltd. ("VIG New Co."), a Korean Limited Company formed in December, 2018 with a principal business address at 16th fl. AIA Tower 16, Tongil-ro 2-gil, Jung-gu, Seoul, Republic of Korea. VIG New Co. is ultimately owned and controlled by VIG Private Equity Fund III, a Korean company with a principal address the same as VIG New Co., which is operated by VIG Partners LLC, a Korean limited liability company with a principal business address the same as VIG New Co. Each of Bonchon USA, Bonchon International, VIG New Co., VIG Private Equity Fund III, and VIG Partners LLC has never offered franchises for this or any other type of business.
Source: Item 1 — THE FRANCHISOR, AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 8–10)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, VIG Private Equity Fund III ultimately owns and controls VIG New Co., a Korean Limited Company. VIG New Co. then majority-owns and controls Bonchon International. Bonchon USA is wholly owned by Bonchon International, and Bonchon Franchise LLC is directly wholly owned by Bonchon USA. Therefore, VIG Private Equity Fund III has an indirect ownership stake in Bonchon.
This ownership structure means that decisions made by VIG Private Equity Fund III could potentially impact Bonchon's strategies and operations. Prospective franchisees should understand that while Bonchon Franchise LLC is the direct franchisor, its parent companies are controlled by an investment fund. This type of structure is common in franchising, where private equity firms invest in and manage franchise brands.
It is important for potential Bonchon franchisees to consider the implications of this ownership structure. While VIG Private Equity Fund III's investment could provide resources and expertise to grow the Bonchon brand, it also means that the long-term strategies of Bonchon could be influenced by the fund's investment objectives. Franchisees should evaluate whether this aligns with their own goals and vision for their Bonchon franchise.