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CVC bags Chinese dumpling restaurant chain Da Niang

18 Mar 2014

dumplingsChinese dumpling restaurant chain Da Niang has been bought by private equity firm CVC Capital Partners from founder Wu Guogiang.

The company, which was founded in 1996, has more than 440 quick-service restaurants across 19 Chinese provinces, employing about 7,000 people.

CVC managing partner and Greater China chairman Francis Leung 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.”

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