SCPE Acquires Stake Of Vietnam Restaurant Chain For $35M


Standard Chartered Private Equity (SCPE) has acquired a significant minority stake of Vietnam-based restaurant chain Golden Gate Restaurant Group for US$35 million from Vietnam-focused private equity firm Mekong Capital, according to a company announcement.

Through the investment, Mekong Capital has made a full exit from Golden Gate, with a net return multiple of 9.1 times.

 

While remaining excited about the long term future of the company, Mekong Capital still chose to sell all the stakes to SCPE with the realization that it is now a right time for realizing profits for its fund, according to Chad Ovel, partner of Mekong Capital.

When Mekong Capital invested in Golden Gate in April 2008, Golden Gate owned five restaurants. As of 2014, the figure has risen gradually to 66 outlets.

Founded in 2005, Golden Gate Restaurant Group has continuously expanded its follow-on restaurant concepts, targeting the niche market in Vietnam.

By the year 2018, the group plans to operate 200 restaurants, with total valuation of the company reaching US$200 million.

Last November, SCPE, an investment arm of Standard Chartered, joined forces with Boyu Capital to make an undisclosed joint investment in Multi Concepts Link Restaurant Management (MCL), a China-focused desert cafe chain.

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