KG Group to acquire a majority stake in Hollys Coffee from IMM Private Equity for $124m.

KG Group, a chemical-to-financial conglomerate, agreed to acquire a majority stake in Hollys Coffee, a specialty coffee company headquartered in South Korea, from IMM Private Equity, a private equity investment firm, for $124m. The coffeehouse is expected to advance its mobile services with the help of KG Group’s other subsidiaries in the mobile sector.