L Capital Asia makes majority investment in restaurant chain Crystal Jade


beijing wall china_sqLouis Vuitton-backed venture capital firm L Capital Asia has agreed to buy a majority stake in Asian food and beverage group Crystal Jade Culinary Concepts Holdings.

Crystal Jade currently operates 120 outlets including dining, casual and specialty restaurants and bakeries in Singapore, Hong Kong and Mainland China. The company also has presence via franchise and joint venture agreements in Thailand, Indonesia, Vietnam, Philippines, South Korea, Japan and India.

This is the third deal from L Capital’s second fund, which was closed on its $950m hard cap in August 2013.

L Capital Asia managing partner Ravi Thakran said, “We are very excited to partner with one of the leading Chinese food and beverage groups in this region. Crystal Jade is a solid asset with over 2 decades of brand heritage and market leadership.

“We are confident the company will continue to perform in its core markets while expanding in top global cities and have already identified a number of landmark sites in Asia and North America.”

Copyright © 2014 AltAssets