Consumer
L Capital Asia eyes bigger deals, mature markets for Fund II
Larger deals, including a few buyouts, are likely to feature more prominently in L Capital Asia’s second regional fund as the GP expands its attention to the more developed markets of Australia, Japan and South Korea, as well as bringing to bear the...
Quadrant backs City Farmers’ tech-based strategy
With a longstanding interest in Australia’s pet supplies industry, Quadrant Private Equity examined all the major independent players in search of a business suitable for rapid scaling up and expansion nationwide. In Perth-headquartered City Farmers,...
TPG-backed China Grand Auto plans $500m Hong Kong IPO – report
TPG Capital-backed China Grand Automotive Group reportedly plans to raise at least $500 million through a Hong Kong IPO early next year.
Morpheus Fund invests $6m in TVC Skyshop
India’s Morpheus Fund has invested INR420 million ($6.17 million) for an 8% stake in direct-to-consumer retailing platform, TVC Skyshop.
PE-backed Australian fashion retailer enters administration
Bleach Group, the Australian parent of fashion brands Insight, Something Else and Ksubi, has been placed into voluntary administration. The company received growth capital investment from US-based Breakwater Investment Management in late 2012.
Rabo, Proparco invest $21m in India’s Prabhat Dairy
Rabo Equity’s India Agribusiness Fund has invested another INR800 million ($12 million) in Prabhat Dairy, while French development finance institution Proparco has committed INR600 million to the company.
Billabong posts $777m loss, brand value drops to zero
Distressed Australian surfwear retailer Billabong International- which is currently negotiating a A$325 million ($290 million) refinancing deal with a consortium led by Altamont Capital Partners - has booked a net loss of A$860 million, while cutting...
JAFCO invests $3m in Japan online laundry service
JAFCO Ventures has invested JPY300 million ($3 million) in White Plus, the Japanese start-up behind Lenet, an online laundry delivery service.
KKR, TPG drop out of ParknShop bidding – report
KKR and a consortium featuring TPG Capital consortium have reportedly been dropped from the auction of ParknShop, the Hong Kong supermarket chain owned by Hutchison Whampoa.
Taiwan GPs: Cross-strait strategies
Taiwanese GPs are looking for investments in the higher growth markets of mainland China. But how do they differentiate themselves from Chinese private equity firms chasing similar deals?
SAIF Partners, Telescope hold first close on China retail growth fund
SAIF Partners and China Telescope Investments have reached a first close of RMB300 million ($49 million) on their China retail growth fund. The vehicle - Telescope Consumer Growth Fund I – will support the development of retail and consumer products,...
China AMTT Digital receives $6.5m Series B round
Beijing-based AMTT Digital Services Group, a hotel digital services provider, has received RMB40 million ($6.5 million) in Series B funding from China Merchants Capital and Shenzhen Green Pine Capital.
Quadrant takes majority stake in Australian pet food supplier
Quadrant Private Equity has bought a majority stake in Australian pet food retailer City Farmers for A$93 million ($84 million).
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...
Future Ventures in talks to sell Indian apparel stake to GA – report
Future Ventures India is reportedly in talks with General Atlantic to sell its minority stake in apparel maker AND Designs India for around INR1.5 billion ($23 million)
CDH, Belle to make Baroque big in China
Secondary direct deals frequently stumble on valuations. Private equity investors are sitting on either side of the table and both are hardwired to get the best possible price; the lingering fear is leaving the table with a deal that is either significantly...
Bain exits Domino's Japan, retains slice
The pizza delivery market in Japan is very different from that of the US. Rather than a budget takeout option, pizza is treated as something of a luxury and customers are willing to pay a premium for quality. Japanese tastes differ too. In addition to...
Advantage to acquire Japan massage salon chain Riraku
Advantage Partners has agreed to buy Japanese massage salon chain Riraku for an undisclosed sum. The mid-market buyout firm is acquiring the business from the founder and CEO and other shareholders.
Seven PE firms, strategics bid for Hong Kong’s ParknShop – report
Seven private equity and strategic investors have reportedly submitted initial offers for ParknShop, the Hong Kong supermarket chain owned by Hutchison Whampoa. The business, which is ultimately controlled by Li Ka-shing, Asia’s wealthiest individual,...
Baring Asia to exit Magic Holdings as L’Oreal makes $843m takeover bid
Baring Private Equity Asia is on course to exit Chinese cosmetic facial masks specialist Magic Holdings International after L’Oreal offered to buy the company in a deal worth $843 million. The PE player stands to receive $176 million, having invested...
Everstone-backed beauty brand VLCC makes Singapore bolt-on
VLCC, the Asian health and beauty brand backed by Indian GP Everstone Capital, has bought an 80% stake in Global Vantaage Innovative Group (GVig), a Singapore-based firm that manufactures personal care and skincare products as well as cosmetics. It is...
Sequoia invests $17m in India’s Vini Cosmetics
Sequoia Capital has bought a minority stake in Vini Cosmetics for INR1.1 billion ($17.8 million). The company makes the Fogg range of deodorants and talcum powders White Tone and Jinjola.
Tiantu Capital makes the first investment via sixth RMB fund
China’s Tiantu Capital has committed RMB80 million (US$13 million) to Ganqishi, a Hangzhou-based Chinese cuisine food chain, for an undisclosed stake. It is the first investment from the VC firm's sixth renminbi-denominated fund.
Bain to sell Domino’s Japan for $123m
Bain Capital will sell a 75% stake in Domino’s Pizza Japan (DPJ) to Australia-listed Domino’s Pizza Enterprises (DPE) for JPY12 billion ($123.4 million). The buyer will provide JPY9 billion of new debt funding, implying an enterprise value for the...