CVC loving China consumer growth story

CVC’s acquisition of fast-food restaurant operator Da Niang Dumpling underscores its continued interest in China’s growing retail and consumer industry.

Global private equity firm CVC Capital’s latest bet on the Chinese consumer underscores the sector's glowing prospects as Beijing strives to build a consumer-led economy, even as growth slows and debt worries build.

CVC on Monday said it had completed the acquisition of a controlling stake in Da Niang Dumpling, a Chinese fast-food restaurant operator. Founded in 1996, Da Niang currently operates more than 440 outlets and together with its franchised businesses  posted sales last year of more than Rmb1.5 billion $244 million.

The fast-food restaurant business in China is growing at a double-digit percentage annual rate, said Bo Liu, a senior managing...

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