Buffett’s Dairy Queen to Expand Into Korea, Open 50 StoresBy and
DQ is looking forward to bringing brand to Korea, CEO says
Ice cream chain partners with M2G USA Investment in Korea
Dairy Queen, the restaurant chain owned by Warren Buffett’s Berkshire Hathaway Inc., is extending its international push by expanding in South Korea, with a plan to open 50 locations there in five years.
The ice cream seller is teaming with M2G USA Investment Inc., which is also a partner in the ownership of Taco Bell restaurants in the U.S. and Korea, according to a statement Tuesday from Minneapolis-based Dairy Queen.
Dairy Queen has been expanding globally with more than 2,200 locations outside of the U.S., and some of the recent growth has been concentrated in nations known for hot weather, such as Kuwait and Saudi Arabia. The company also opened locations in Taiwan and Vietnam in recent years and often tweaks menus to appeal to local cultures, offering ice cream flavors such as green tea with red bean. In the Middle East, the chain rolled out beef kofta, a spicier, gyro-type sandwich. The Korean stores will start with traditional Dairy Queen menus, a spokesperson said.
The operation “continues to expand in new international markets,” John Gainor, president and chief executive officer of International Dairy Queen Inc., said in the statement. “We are looking forward to working with M2G USA Investment to bring our renowned menu, signature treats and quality service to the Republic of Korea.”
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