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Standard Chartered PE, Boyu invest in China dessert chain

  • Mirzaan Jamwal
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Standard Chartered Private Equity (SCPE) and Boyu Capital have made a joint investment in China’s Multi Concepts Link Restaurant Management (MCL), which operates Chinese-style dessert cafés under the Honeymoon Dessert brand. Financial terms were not disclosed.

Since opening its first café in Hong Kong in 1995, the company has grown to more than 210 directly-operated Honeymoon Dessert-branded stores across China, Singapore and Indonesia. The new capital will support MCL's expansion plans in China's quick service restaurant (QSR) sector.

IDG Capital Partners also invested in the sector earlier this year with a RMB250 million ($40 million) commitment to Chinese catering chain Quanjude - best known for its Peking Duck dishes - for a 5.78% stake.

CVC Capital Partners is reported to be near an agreement to buy a majority stake in restaurant chain South Beauty Group, for around $300 million. South Beauty operates almost 70 restaurants across China serving spicy Sichuan-style food. CDH investments bought an undisclosed stake in the company in 2008 for $29.3 million.

Last year, Actis exited its stake in hot pot chain Xiabu Xiabu to General Atlantic, while in February the same year Unitas Capital invested $40 million in Babela's Group.

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