CMC invests $93m in China liquor brand

The new capital will go toward expanding the production capacity in the town of Maotai (where luxury liquor brand Maotai is produced), recruit top-brewing talent, and build a complete quality-control system. The company also aims to increase its reserves of old wine, improve its data-based applications and user experience, and put more effort into brand-building, according to a statement.

Forty-Nine Union focuses on middle-to-high-end sauce-flavored liquor. It has built an offline network comprising 1,500 experience stores and 2,500 dealers nationwide. Over the past six years, the company claims to have maintained an annual growth rate of around 116%.

It has also implemented strict quality controls in sourcing raw materials and in the brewing process. In addition, Forty-Nine Union says it leverages data-based technology to enhance user experience and its retail model.

CMC closed its third US dollar-denominated fund at $950 million in early 2020, taking its total assets under management past $2.5 billion. Other recent investments in the alcoholic beverage space include a RMB600 million commitment to Chinese beer brand Taishan in March.

 

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• Topics
• Greater China
• Expansion
• Consumer
• China
• CMC Capital