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...
¬ Haymarket Media Limited. All rights reserved.
