GLP invests $58m in China's Wangjiahuan

The investment was made via GLP's Chinese private equity unit, Hidden Hill Capital, which was set up earlier this year with the launch of a RMB10 billion logistics fund. According to a release, the capital will be used to upgrade operations through development of a cloud-based food safety management platform and the integration of internet-of-things and blockchain technologies.

Founded in 1995, Wangjiahuan offers logistical services across a range of food supply chain segments, including cultivation, distribution, food processing, cold chain, catering management and e-commerce. The company operates across 60 cities in China and claims to have secured distribution rights with more than 200 recognized local food brands.

GLP was delisted from the Singapore Exchange in January following a S$15.9 billion ($11.5 billion) acquisition by a consortium including Hillhouse Capital and Hopu Investment. The firm, which positions itself as the global leader in modern logistics, manages more than $50 billion of assets globally across real estate and private equity platforms that have recycled more than $8 billion of assets in the past six years.

China is GLP's largest market, with 30 million square meters of modern logistics facilities occupied by the likes of Best Inc, LF Logistics, BMW, and JD.com. Recent activity in the local agricultural space includes participation in a RMB230 million investment in Songxiaocai, a B2B platform operator looking to improve a number of logistics systems including its cold chain operations.

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• Topics
• Greater China
• Consumer
• Expansion
• Growth capital
• Agriculture
• Technology
• China
• Logistics
• GLP