CVC acquires Chinese quick service restaurant operator Da Niang

CVC Capital Partners has acquired a controlling stake in Da Niang. No financial terms were disclosed. The seller is Wu Guoqiang, founder of Da Niang, who will continue as a shareholder. Based in China, Da Niang is a quick-service restaurant operator.


March 17, 2014 – Funds advised by CVC Capital Partners (‘CVC’) today announced the completion of the acquisition of a controlling stake in Da Niang Dumpling Holdings Limited (“Da Niang”), a leading Chinese cuisine quick-service restaurant operator in China, from the founder Mr. Wu Guoqiang, who will remain as a shareholder.
Founded in 1996, Da Niang is a leading Chinese quick-service restaurant (“QSR”) operator with a network of over 440 stores in 19 provinces across China. The brand is a household name in China and the most recognized in the dumpling segment. The Company operates an integrated business model and is one of the few Chinese restaurant operators to have successfully standardized a Chinese staple food item and rolled out a national network. The Company employs about 7,000 employees.
Francis Leung, Chairman of Greater China and Managing Partner of CVC, said: “Da Niang is a leading player in the fast growing Chinese quick-service restaurant sector and the number one dumpling chain operator, with a strong and stable management team. Our significant experience in the sector will help solidify Da Niang’s market leadership, and we look forward to partnering with the management to take the company to the next level.”
Bo Liu, Senior Managing Director at CVC’s Shanghai office, said: “We are particularly attracted by Da Niang’s sustainable and scalable business model, clear market leadership, significant growth potential and strong dedication to product quality.”
Vincent Huang, CEO of Da Niang, commented: “I believe that with its strong foundation and leadership from CVC, Da Niang is well positioned to capitalize on the significant growth potential in China, and will continue to grow and become one of the largest Chinese quick-service restaurant brands across the country.”
About CVC Capital Partners
CVC is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 20 offices and over 300 employees throughout Europe, Asia and the US. Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. To date, CVC has secured commitments of over US$60 billion in funds from a diverse and loyal investor base, completing over 300 investments in a wide range of industries and countries across the globe, with an aggregate transaction value of over US$120 billion.
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About Da Niang
Founded in 1996, Da Niang is a leading Chinese QSR operator with a network of over 440 stores in 19 provinces across China, through a combination of self-owned and managed stores. It is the dominant market player in the category of dumpling, which is a traditional food enjoyed by the Chinese for centuries. Approximately 80% of Da Niang’s stores are located in 2nd and 3rd tier cities in East China, which offers a good balance between consumption power and favourable operating costs. The Company also leverages on its strong brand equity and manufacturing facilities to sell frozen food to supermarkets. The Company had revenue of over RMB 1,522 million (USD 248 million) in 2013, and approximately 7,000 employees.
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