Colombian investment firm KKO has completed its acquisition of Kokoriko, the iconic roasted chicken chain founded by Eduardo Robayo Ferro, marking a significant shift in the country’s restaurant sector. The transaction, finalized in early January 2026, came just weeks after the passing of Robayo Ferro at age 91 on March 21, 2026, who had remained a shareholder and respected figure in the industry despite stepping back from daily operations years earlier. Kokoriko, which traces its origins to over 50 years ago, had been part of the Grupo Empresarial IGA since approximately 2017, following that group’s integration with Grupo Conboca, which previously managed Kokoriko and Helados Mimo’s assets.
The deal represents one of the most notable corporate moves in Colombia’s food services industry in 2026, according to multiple financial news outlets. KKO, a Colombian private investment fund, acquired the chain from the IGA conglomerate, which also includes Andrés Carne de Res among its holdings. Prior to the acquisition, Kokoriko operated 79 locations across 18 Colombian cities and projected annual revenues near 170 billion Colombian pesos, based on figures reported in early 2025.
Martín Nova, a Medellín-based businessman and administrator of companies with an MBA from the Kellogg School of Management, has been identified as the individual behind the formation of Inversiones KKO, the vehicle used to execute the purchase. Nova’s professional background includes roles as retail account manager at Nielsen from 2001 to 2008, vice president of marketing at Grupo Éxito, and general manager at Sanautos, a car dealership. He is also recognized as an author of several business-related books. According to mercantile records accessed by Valora Analitik, Nova confirmed ownership of 100% of Inversiones KKO’s shares with the Medellín Chamber of Commerce in early September 2025, and the company was formally established in late August 2025 with an authorized capital of 1 million Colombian pesos.
The acquisition was finalized shortly after the New Year, with the transfer of ownership becoming official just six days into January 2026. Although Nova is listed as the founding shareholder, the structure of Inversiones KKO as a simplified stock company (SAS) allows for additional investors behind the venture. The Robayo family’s historical connection to the brand dates back to its founding, with Eduardo Robayo Ferro widely credited for popularizing roasted chicken consumption across Colombia and building a national presence that endured for decades.
Following the founder’s passing, industry analysts noted that the timing of the sale underscored a broader transition for legacy brands navigating generational change. While Kokoriko had not been under direct family management for some time, Robayo Ferro’s continued role as a shareholder and symbolic leader had maintained a link to the company’s origins. His death prompted renewed attention on the chain’s future, accelerating discussions about ownership that culminated in the KKO-led transaction.
Grupo IGA’s involvement with Kokoriko began amid a wave of consolidation in Colombia’s restaurant sector during the mid-2010s. The 2016 alliance between the Robayo family and Andrés Jaramillo, founder of Andrés Carne de Res, laid the groundwork for the eventual integration into the larger corporate structure. By 2017, after IGA absorbed Grupo Conboca, Kokoriko became part of a diversified portfolio that included other prominent food and hospitality brands.
Despite the change in ownership, Kokoriko’s operational footprint remains substantial, with its presence in major urban centers across Colombia. The chain has long been associated with accessible, family-oriented dining centered around its signature roasted chicken offerings. Observers note that the brand’s longevity and recognition provide a stable platform for the new owners to pursue potential modernization or expansion strategies, though no specific post-acquisition plans have been publicly detailed by KKO or Inversiones KKO as of April 2026.
As of the date of this report, no further regulatory filings or public statements have been issued regarding additional investors in Inversiones KKO or potential leadership changes at Kokoriko following the acquisition. The next expected development would be any routine corporate disclosure through Colombia’s Superintendencia de Industria y Comercio or updates via the Medellín Chamber of Commerce, where the founding documents of Inversiones KKO were registered.
For readers interested in tracking developments in Colombian business and sector-specific transitions, official sources such as the Superintendencia de Sociedades and financial disclosures published through the Bolsa de Valores de Colombia remain the primary avenues for verified information. Continued monitoring of mercantile records and authorized news outlets will provide clarity on any subsequent strategic moves involving Kokoriko under its new ownership.