Belgian gourmet chocolate maker Godiva Chocolatier, unit of Turkish food products manufacturer Yildiz Holding, is planning to divest parts of its Asia-Pacific business to South Korean private equity firm MBK Partners.

Godiva said that the move includes its operations in Japan, South Korea and Australia, and the production facility in Belgium supplying these regions.

The deal could be worth between $1 billion and $1.5 billion.

Godiva will use the proceeds to fund its diversification, including an expansion of its cafe business from 20 stores to more than 2,000 globally in the next six years.