CVC Capital says it will help improve and expand Da Niang Dumpling’s operations, and seek for an IPO of the company in Hong Kong at an appropriate time.
Founded in 1996, Da Niang has built a network of over 440 restaurants across China covering over 90 cities in 19 provinces as of the end of 2013.
The company operates an integrated business model covering dumpling production, restaurant operations and frozen dumpling wholesale.
"Chinese Quick Service Restaurant (CQSR) has been a fast growing sector in China, following the fast urbanization trend in recent years." says Vincent Huang, CEO of CVC Capital, in the announcement.
Founded in 1981, CVC has raised over US$67 billion in private equity and credit funds in Europe and the Asia Pacific.
Its CVC Capital Partners Asia Pacific IV L.P, which is targeting to raise US$3 billion, received US$100 million commitment from New York State Teachers’ Retirement System (NYSTRS) in January.