HK yoga group must stretch to meet private equity goals

Ontario Teachers' Pension Plan and Hong Kong-based private equity firm FountainVest Partners have bought control of yoga-to-organic food group Pure, people familiar with the deal said on Tuesday.

Co-founder of the Hong Kong-based firm, Bruce Rockowitz, controlled about half of the lifesytle group’s shares while the Fung Group, the private holding company of Hong Kong-based brothers Victor and William Fung, owned 10% of its stock.

Both have sold shares to the consortium of funds in a deal which values the group at $400 million to $500 million, the people added.

The private equity funds have see Pure as a bet on Chinese...