Consumer
TPG faces a challenge in Li Ning
TPG Capital worked its magic on women’s shoe retailer Daphne three years ago, but can it do the same for beleaguered Chinese sportswear chain Li Ning? Investors clearly hoped as much, with the Hong Kong-listed company’s stock rising 20% in response...
Unitas backs Chinese casual dining chain Babela’s
Unitas Capital has invested $40 million in Chinese restaurant chain Babela’s Group, best known for operating an Italian-themed casual dining chain that has over 120 outlets in Shanghai and Beijing, as well as in tier-two and tier-three cities. The company...
MCap-backed Jyothy Labs secures $110m loan
Jyothy Laboratories, the Indian consumer products maker backed by MCap Fund Advisors, has raised an INR5.5 billion ($110 million) loan to refinance its debt.
Wolseley exits Freshmax to Maui Capital
Wolseley Private Equity has fully exited Australian fruit and vegetables supplier Freshmax through a secondary sale to Maui Capital, an Auckland-based private equity firm. The deal closed before the end of 2011, giving Wolseley enough time to return money...
TPG, GIC recues Li Ning with $119m convertible bonds
Hong Kong-listed Li Ning, the leading Chinese sportswear brand, announced on Thursday that it has sold RMB750 million ($119 million) in convertible bonds to TPG Capital and Government of Singapore Investment Corp. (GIC). This follows the company's disappointing...
SC Lowy in talks for $125m Kingfisher deal - report
Distressed debt specialist SC Lowy is said to be in talks with India’s second-largest airline, Kingfisher, about a possible $125 million investment.
CEC to raise $300m China fund
Hong Kong-based private equity firm China Enterprise Capital Management (CEC) is said to be planning to raise up to $300 million for a third fund which will focus on consumer deals in mainland China.
CHAMP PE-backed Accolade Wines in China acquisition
Accolade Wines, a portfolio company of CHAMP Private Equity, has purchased a majority stake in Chinese wine distribution business Shanghai CWC Wine Trading. The acquisition is intended to serve as a platform for Accolade’s expansion into the fast-growing...
L Capital in talks with Indian ethnic wear chain
L Capital Asia, the private equity arm of luxury goods giant LVMH group, is in talks to acquire a minority stake in Fabindia, an Indian ethnic fashion retailer.
Dunkin’ Donuts exit reflects consumer appeal
Fast food is a popular commodity among private equity investors in Southeast Asia who are drawn to any asset that could be interpreted a play on rising regional consumption.
Board rejects rival bid for Malaysia’s QSR
Palm oil producer Kulim Malaysia has rejected an offer for its stake in fast food company QSR Brands. Dewan Perniagaan Melayu Malaysia (DPMM) offered to pay MYR6.90 per share for Kulim’s holding, slightly higher than a rival bid by CVC Capital Partners...
CHAMP PE in exclusive talks for VIP Petfoods – report
CHAMP Private Equity has won exclusivity on the sale process of VIP Petfoods, Australia’s largest producer of fresh chilled pet food for dogs and cats, the Australian Financial Review reported. The deal under discussion could reach the high A$300 millions.
US PE firm Yucapia exits South Korea’s IHQ
Yucapia Global PEF, a US private equity fund held by supermarket conglomerate owner Ronald Burkle, has exited almost its entire stake in IHQ, one of South Korea’s major entertainment stocks. It is unlikely to have generated a significant return on the...
L Capital backs Chinese clothes maker Xinhe
Private equity firm L Capital Asia, sponsored by multinational luxury brand LVMH, has supported Xinhe Fashion by increasing its investment to become the company’s second-largest equity stakeholder.
Navis exits Dunkin’ Donuts, Au Bon Pain in Thailand
Navis Capital Partners has completed the sale of its stake in Dunkin’ Donuts and Au Bon Pain in Thailand to local-listed Sub Sri Thai Public Company (SST) for THB1.32 billion ($41.6 million). It has secured an approximately 2.45x on its initial investment.
Beacon India buys 1% of Bay Capital-backed Sterling
Growth capital firm Beacon India Private Equity has acquired close to 1% of listed hospitality firm Sterling Holiday Resorts, which is backed by Bay Capital Investments.
Lunar Capital backs Chinese babywear firm
China-focused private equity firm Lunar Capital has backed the management buyout of babywear company China Yeehoo Apparel for an enterprise value in excess of $100 million.
‘Sweat equity’ wins Lunar $100m Yeehoo deal
China-focused private equity firm Lunar Capital has backed the management buyout of babywear company China Yeehoo Apparel for an enterprise value in excess of $100 million.
KKR in takeover bid for Australia’s PacBrands
KKR has launched an unsolicited takeover bid for listed Australian clothing and related consumer brands wholesaler Pacific Brands (PacBrands).
Sabre sells Australia’s Fudge hair care to PZ Cussons
Sabre has sold Australia’s Fudge hair care brand to PZ Cussons, the company behind Imperial Leather Soap, for GBP25.5 million ($39.5 million). The acquisition is intended to increase PZ Cussons’ exposure to the male grooming sector. Its product portfolio...
Mayban Ventures to invest $399m over next five years
Mayban Ventures, the private equity arm of Maybank, Malaysia’s largest financial group, has announced plans to channel up to RM250 million ($399 million) into Asian deals over the next five years.
PE firm approaches Australia's PaperlinX
An unnamed private equity house has made a takeover bid for listed Australian paper manufacturer PaperlinX.
CVC, Johor win board backing for Malaysian fast-food buyout
A takeover offer from CVC Capital Partners and Malaysian state investment arm Johor Corp. for fast-food chains QSR Brands and KFC Holdings has won approval from the companies’ respective boards. The consortium must now put their bid before shareholders,...
Everstone buys stake in Delhi restaurant chain
Everstone Capital has agreed to buy a 45% stake in Pind Balluchi, a New Delhi-based restaurant chain, for about $20 million. The private equity firm will invest in JS Hospitality Services, which operates about 30 restaurants under the Pind Balluchi brand.