Emerging markets-focused investment firm Actis has backed Chinese biscuit maker Jiashili Food Group.
Actis said that it has bought a significant minority stake without disclosing any further details.
The firm invested alongside Jiashili’s chairman and owner Xianming Huang. Since Huang bought into the business in 2007, Jiashili has seen its revenues increase fourfold.
Since 2001, Actis has invested more than $600m in in consumer companies in China.
Actis director Max Lin said, “We are pleased to be making another investment in the Chinese consumer sector.
“Branded packaged food, especially snack food, is extremely popular and becoming more so, underpinned by growing disposable incomes and an increased focus on quality and food safety.”
Last week Actis invested in Africa’s largest independent credit bureau Compuscan.
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