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[Alpha Biz=(Chicago) Reporter Paul Lee] bhc Chicken, which is dominated by MBK Partners, a private equity fund (PEF), is found to have slightly changed some of its menu chicken to cheap Brazilian products, which are less than half of domestic ones and even raised prices.
According to the restaurant industry on the 19th, bhc Chicken changed seven chicken menus from domestic to Brazilian in May last year.
bhc chicken said at the time that the pure meat menu was changed to Brazil because it was difficult to supply domestic chicken, but after more than half a year, it has been confirmed that Brazilian chicken is still used.
On top of that, the company raised the price of 85 menus by 500 to 3,000 won in December last year, citing prices of raw materials, labor costs and rising rent, raising the price of seven menus using Brazilian chicken instead of domestic chicken. Competitors also use Brazilian chicken for some menus, but did not join the increase in the second half of last year.
An official of bhc Chicken said, "When the contract period is over, we will change it back to domestic products."
The price of imported frozen meat from Brazil is said to be half the price of domestic chicken.
The major shareholder of bhc is MBK Partners, a private equity fund, which started investing in 2018 and currently has a 45% stake in the company.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
