BIZCHINA / Overseas Investment
Biggest listed private equity firm invests in food chain
(China Daily HK)
Updated: 2006-07-06 14:48
3i Group Plc, Europe's biggest listed private equity firm, said yesterday
it has led a US$25-million investment in Little Sheep, an Inner
Mongolian-based food chain with more than 700 outlets on the mainland.
3i will take an undisclosed stake with co-investor Prax Capital, aiming
to profit from the mainland's rising consumer class and fund the roll out
of new Little Sheep outlets on the mainland and expand into international
markets.
"The reason we like food and beverage so much is the lifestyle change in
China, the increasing middle class and their consumer power," said Wang
Daizong, a 3i vice president who focuses on the mainland.
(For more biz stories, please visit Industry Updates)
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