Partners Group to acquire 30% of Chinese restaurant chain operator

According to a filing with the anti-monopoly bureau of the Ministry of Commerce (MofCom), Partners Group will acquire the stake from existing Affulent Fine shareholder Time Sonic Investments. Further financial details on the transaction were not disclosed.

Affluent Fine owns restaurant chains in China under the Green Tea Restaurant, Play King Pizza and Guan Dong Zao brands. Green Tea was founded in 2008 in Hangzhou and has since expanded into Beijing, Shanghai and Shenzhen. It currently operates approximately 40 direct stores in China. Guan Dong Zao was launched in 2014 with a focus on northern Chinese cuisine, while Play King Pizza was opened in Beijing last year.

In 2015, Partners Group acquired a minority stake in Chinese maternity and baby products retailer Aiyingshi, the first direct investment in China. Previously it acquired Trimco, a Hong Kong-based garment label manufacturer, with a strong presence in the country. The purchase of Savera, an elevator components supplier of Spanish origin now headquartered in China, was announced last year but did not go through due to concerns about risk.

 

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• Topics
• Greater China
• Consumer
• Expansion
• China
• Partners Group