Carlyle set to buy stake in Taiwan sushi chain

According to a statement from the State Administration for Market Regulation, the transaction would make Carlyle the second-largest shareholder after the Chen family, which founded and still owns the company.

Jinqiu Chen established Sushi Express in 1996. Its first store opened on Yongkang Street in Taipei and the company expanded beyond Taiwan in 2006. It currently has 276 outlets in Taiwan, 159 in mainland China, 108 in Hong Kong, 30 in Singapore, and 21 in Thailand.

The company claims to sell fresh but affordable sushi. It uses self -service to cut the cost. Takeaway has always been a strong contributor of the business. Brands include Magic Touch, Go Fresh and several others.

The store footprint in mainland China is mostly limited to large cities, including Shanghai, Beijing, Guangzhou, and Shenzhen. Carlyle is expected to help bring the brand to more lower tier cities.

Caryle's key experience in China’s food chain space is the acquisition of McDonald's operations in the country alongside CITIC Capital in 2017. After the carve-out, it accelerated anexpansion in third- and fourth-tier cities. As of the end of September, McDonald's global store footprint was 39,980, of which 4,905 were in mainland China, accounting for 12%.

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• Topics
• Expansion
• Greater China
• Consumer
• China
• The Carlyle Group
• food & beverage