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.
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