Funds dine out in China
Private equity is banking on all-you-can-eat opportunities in China. Last week, Apax Partners became the latest fund to enter the low-to-mid-priced food market, with the acquisition of Golden Jaguar, a buffet-style restaurant chain specializing in Western cuisine, for $250 million.
It follows MUS Roosevelt, which bought pizza buffet chain Origus in late June. The rationale behind both deals is that Chinese consumers are getting richer, busier and hungrier for restaurant options....
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