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Coffeebanhada of the robot barista fame seeks investors for expansion
South Korean budget coffee chain operator Coffeebanhada is seeking to attract investment from private equity funds and strategic investors to fund its expansion from 170 unmanned cafes to 1,428 by 2025.
Coffeebanhada, known for its robot barista and low-priced coffee products, will issue new shares to investors for an equity investment.
However, the company would entertain a buyout offer that includes the management right.
Coffeebanhada, or Curban for short, has chosen Samil PricewaterhouseCoopers as its stake-sale adviser.
Coffeebanhada's products, including Americano, sell at 2,000 won.
The company runs 670 outlets across South Korea. In 2019, it posted a 1.7 billion won operating profit with 18.7 billion won revenue.
Cofeebanhada's robot barista called “Episode Marco” can make about 100 drinks, including iced coffees. The company's unmanned cafes are expected to gain popularity in the non-contact era.
A company official revealed that they are eyeing 128.4 billion won in sales by 2025 when its smart cafes expand to 1,428.
Coffeebanhada is South Korea's fourth-largest budget coffee brand with a 7.6 percent market share. It trails Ediya Coffee with 47.4 percent market share, Mega Coffee with 18.1 percent, and Paik’s Coffee with 16.5 percent.