Chicken business
Dallas' Bonchon Korean chicken chain sold to new owners eyeing growth
Bonchon has been sold to new owners with plans for expansion.
Dallas-based Korean fried chicken chain Bonchon is being sold to a new coop. Investment firm Serruya and restaurant operator Minor Food have agreed to buy the chain from investment firms VIG Partners and Mr. Seo & Family.
According to a company announcement, Serruya will control Bonchon’s territory in North, Central, and South America, while Minor Food will own the business’ operations outside the Americas.
Serruya, which moved its headquarters from New York City to Dallas in 2021, says it plans to grow Bonchon’s U.S. business and expand into Canada, Mexico, and Chile.
At the end of last year, Bonchon had 151 restaurants in the U.S. and is aiming for 500 U.S. locations, the company says. Target markets for expansion include Texas, Arizona, California, the Carolinas, Florida, Georgia, Nevada, New Jersey, New York, and Pennsylvania.
Bonchon first introduced itself to Dallas, on Greenville Avenue, in December 2013, pulling out less than a year later due to what the franchise owner dubbed a “premature” entry into the market. In 2016, it made a move in Houston.
The chain currently operates seven restaurants in Texas — three in Dallas-Fort Worth (Addison, Flower Mound, and Fort Worth) and three in the Houston area (Houston, Katy, Pearland, and Webster). The chain is eyeing San Antonio for new locations. A Bonchon restaurant opened in Round Rock, an Austin suburb, in 2018 but eventually closed.
Bonchon, founded in 2002, operates about 500 restaurants in the U.S., Thailand, the Philippines, Vietnam, Myanmar, Taiwan, Laos, Cambodia, and Malaysia.
The chain specializes in hand-battered, double-fried chicken wings, boneless chicken wings, chicken strips, and chicken drumsticks available in five flavors: soy garlic, spicy, Korean barbecue, Classic Crunch and Yangnyeom. Yangnyeom is a popular kind of Korean fried chicken that’s slathered in a sticky, sweet, spicy glaze.
Each chicken order comes with a side of pickled radish or coleslaw.
Among the entree options are bibimbap, udon noodle soup, fried rice, and the K-chicken sandwich.
Appetizers on the Bonchon menu include bulgogi fries, potstickers, bao buns, Korean tacos, and a mozzarella corndog with crispy potato cubes. If the appetizers don’t whet your appetite, the assortment of sides features fried zucchini, kimchi, edamame, sweet potato waffle fries, Korean sweet corn, and more.
“Bonchon is one of the most compelling global restaurant brands, with a differentiated product, an exceptionally loyal customer base, significant runway for growth, and a highly scalable franchise model,” says Michael Serruya, chairman of his namesake investment firm.
Other brands in the Serruya portfolio include Pinkberry, Sprinkles, STK Steakhouse, Swensen’s, and The Body Shop.
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