Consumer
Thomas Cook plans to sell its Indian arm
Thomas Cook has initiated a process to sell its 77% stake in Thomas Cook India, a transaction intended to bring down its debt up to GBP890 million ($1.4 billion). Several Private equity investors are said to be potential suitors.
TPG, Bain in talks to invest $50m in Parag Milk - sources
TPG Capital India and Bain Capital are said to be in advanced talks with India’s Parag Milk Foods about purchasing $50 million worth of shares in the dairy products manufacturer.
Verlinvest acquires 20% of Everstone's restaurant business
Family office Verlinvest, has acquired a 20% stake in Cuisine Asia, a Mauritius-based holding company set up by Everstone Capital to manage its food and beverage assets.
Unitas takes a bite out of Babela's
Everyone loves pizza and chicken wings, and none more so than Unitas Capital. The regional buyout firm, which paid $40 million for a majority stake in Chinese restaurant chain Babela’s last week, plans to kick off its list of operational improvements...
Wolseley exits Freshmax to Maui Capital
From cattle ranchers to fruit and vegetable farmers, PE interest in Australasia’s agricultural space is wide-ranging. In each case, investors are seeking to leverage the perception, particularly in Asia, that produce from Australia and New Zealand is...
BC Partners replaces Fitness First management team
BC Partners has axed the core management team of Fitness First in a bid to prevent its portfolio company sinking under the weight of its high-interest loans.
Swire enters the bidding for Baring-backed Courts Asia
Hong Kong conglomerate Swire is reportedly among the bidders for Baring Private Equity Asia-invested electronics and furniture retailer Courts Asia. The sale could be worth close to $400 million.
TPG eyes PacBrands takeover
TPG and a syndicate of banks are reportedly preparing a takeover bid for listed Australian clothing and related consumer brands wholesaler Pacific Brands (PacBrands).
TPG faces a challenge in Li Ning
TPG Capital worked its magic on women’s shoe retailer Daphne three years ago, but can it do the same for beleaguered Chinese sportswear chain Li Ning? Investors clearly hoped as much, with the Hong Kong-listed company’s stock rising 20% in response to...
Unitas backs Chinese casual dining chain Babela's
Unitas Capital has invested $40 million in Chinese restaurant chain Babela’s Group, best known for operating an Italian-themed casual dining chain that has over 120 outlets in Shanghai and Beijing, as well as in tier-two and tier-three cities. The company...
MCap-backed Jyothy Labs secures $110m loan
Jyothy Laboratories, the Indian consumer products maker backed by MCap Fund Advisors, has raised an INR5.5 billion ($110 million) loan to refinance its debt.
TPG, GIC recues Li Ning with $119m convertible bonds
Hong Kong-listed Li Ning, the leading Chinese sportswear brand, announced on Thursday that it has sold RMB750 million ($119 million) in convertible bonds to TPG Capital and Government of Singapore Investment Corp. (GIC). This follows the company's disappointing...
SC Lowy in talks for $125m Kingfisher deal - report
Distressed debt specialist SC Lowy is said to be in talks with India’s second-largest airline, Kingfisher, about a possible $125 million investment.
CEC to raise $300m China fund
Hong Kong-based private equity firm China Enterprise Capital Management (CEC) is said to be planning to raise up to $300 million for a third fund which will focus on consumer deals in mainland China.
CHAMP PE-backed Accolade Wines in China acquisition
Accolade Wines, a portfolio company of CHAMP Private Equity, has purchased a majority stake in Chinese wine distribution business Shanghai CWC Wine Trading. The acquisition is intended to serve as a platform for Accolade’s expansion into the fast-growing...
L Capital in talks with Indian ethnic wear chain
L Capital Asia, the private equity arm of luxury goods giant LVMH group, is in talks to acquire a minority stake in Fabindia, an Indian ethnic fashion retailer.
Dunkin' Donuts exit reflects consumer appeal
Fast food is a popular commodity among private equity investors in Southeast Asia who are drawn to any asset that could be interpreted a play on rising regional consumption.
Board rejects rival bid for Malaysia's QSR
Palm oil producer Kulim Malaysia has rejected an offer for its stake in fast food company QSR Brands. Dewan Perniagaan Melayu Malaysia (DPMM) offered to pay MYR6.90 per share for Kulim’s holding, slightly higher than a rival bid by CVC Capital Partners...
CHAMP PE in exclusive talks for VIP Petfoods – report
CHAMP Private Equity has won exclusivity on the sale process of VIP Petfoods, Australia’s largest producer of fresh chilled pet food for dogs and cats, the Australian Financial Review reported. The deal under discussion could reach the high A$300 millions....
US PE firm Yucapia exits South Korea's IHQ
Yucapia Global PEF, a US private equity fund held by supermarket conglomerate owner Ronald Burkle, has exited almost its entire stake in IHQ, one of South Korea’s major entertainment stocks. It is unlikely to have generated a significant return on the...
L Capital backs Chinese clothes maker Xinhe
Private equity firm L Capital Asia, sponsored by multinational luxury brand LVMH, has supported Xinhe Fashion by increasing its investment to become the company’s second-largest equity stakeholder.
Navis exits Dunkin' Donuts, Au Bon Pain in Thailand
Navis Capital Partners has completed the sale of its stake in Dunkin’ Donuts and Au Bon Pain in Thailand to local-listed Sub Sri Thai Public Company (SST) for THB1.32 billion ($41.6 million). It has secured an approximately 2.45x on its initial investment....
Beacon India buys 1% of Bay Capital-backed Sterling
Growth capital firm Beacon India Private Equity has acquired close to 1% of listed hospitality firm Sterling Holiday Resorts, which is backed by Bay Capital Investments.
Lunar Capital backs Chinese babywear firm
China-focused private equity firm Lunar Capital has backed the management buyout of babywear company China Yeehoo Apparel for an enterprise value in excess of $100 million.