HK yoga group must stretch to meet private equity goals

The Pure Group’s new owners FountainVest Partners and Ontario Teachers' expect the firm to capitalise on China’s growing health consciousness.

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...

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