EQT China takes controlling stake in Qingyuan Bakery

The acquisition price was not disclosed. With 223 outlets, Qinyuan is the leading retail bakery chain in Southwest China selling products including pastries, cakes, cookies, beverages, mooncakes and rice dumplings. The Bakery’s strongest markets are Chongqing and Guiyang where it holds approximately 40% market share.

EQT’s fellow shareholders in the bakery, include Congmei Liu, Qinyuan’s co-founder and General Manager. Martin Mok, Partner at EQT Partners in Hong Kong said, “The founders have, over the 21 years in operation, built a very good business both in terms of growth and profitability. When entering the next development phase, EQT Greater China will contribute its industry knowledge from the retail sector but also from the European bakery sector in which EQT has significant experience.” The $535 million Greater China II fund, launched in 2006, has largely been invested in mid-market buyout and control investments based in or connected with China, Hong Kong and Taiwan.

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• Topics
• Buyouts
• Greater China
• EQT Partners