Greater China-focused private equity firm Zoyi Capital has invested in Taiwanese bakery Vigor Kobo.
The company was established in 1992 as a traditional bakery, and has since grown itself into a souvenir shop selling pineapple cakes. It has 16 self-owned stores and tourist factories strategically located throughout Taiwan, and 1 store at Yu Garden in Shanghai, China.
“Led by the visionary and close-knit management team, Vigor Kobo will leverage its high quality products and strong brand awareness to capture the continued increase in tourists to Taiwan, which has been growing at double digit rate in recent years” said Andrew Kuo, founding partner and CEO of Zoyi Capital.
By leveraging its relationships with travel agencies in China and brand awareness with Chinese tourists, Vigor Kobo has identified further growth potential via a cross-border souvenir business model catering to tourist locations in China, the company said.
Zoyi Capital invests in mid-cap companies in the China and Taiwan markets. Founding partner Andrew Kuo was previously vice chairman of Blackstone Greater China, while Pei-Pei Yu was previously managing director of Goldman Sachs PIA Asia and Eric Chen, was previously President of North Asia and Greater China at Fullerton Financial, a subsidiary of Temasek.
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