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UNITAS CAPITAL APPOINTS JAY LEE AS A PARTNER IN HONG KONG
Hong Kong, 1 July, 2010 – Unitas Capital (Unitas) today announced that it had appointed Jay Lee as a Partner based in Hong Kong.
With his extensive experience in the branded consumer, retail and QSR sectors across Asia and the U.S., Mr. Lee will focus on identifying investment opportunities and supporting Unitas’ portfolio of branded consumer and retail companies.
Before joining Unitas, Mr. Lee was Chief Executive Officer of Buy The Way Inc. (the “Company”), the fastest growing CVS chain in Korea with more than 1,500 stores nationwide. He was recruited as Chief Executive Officer when Korea Retail Holdings B.V. (“KRH”), an affiliate of private equity funds advised by Unitas, acquired Buy The Way in July 2006. During his three and a half years tenure, Mr. Lee transformed Buy The Way into a clearly differentiated CVS operator with an advanced store format and creative merchandising strategy, leading to a successful sale of the Company to Korea Seven in 2010.
“Jay will play a key role at Unitas, as we continue to deepen our focus in the branded consumer and retail sectors” says Eugene Suh, Partner and Chief Operating Officer of Unitas. “Jay has over 16 years of operational experience and strong strategic capabilities, which we were able to experience first-hand when he was the CEO of Buy The Way. He adds a significant presence to our strong team of internal operators from the industrial, consumer and retail sectors, which we’ve been building since the inception of our fund over 10 years ago”.
Prior to joining Buy The Way, Mr. Lee spent 6 years at Pizza Hut Korea, where he held a number of senior management positions, including Chief Operating Officer, Chief Financial Officer and Chief Development Officer. Prior to that, he was the Director of Business Strategy for Schering-Plough Corporation in the US and Singapore, and previous to that, Mr. Lee spent 4 years at Pepsico Inc, where he worked on the Pepsi Cola North America account, and development of the Frito Lay brand into Asia. He holds a BA in Business Administration from Yonsei University, and an MBA from the Wharton School, University of Pennsylvania.
About Unitas Capital
Unitas Capital is one of the largest dedicated regional private equity firms in Asia, with US$4 billion in capital commitments under management. Founded in 1999, the firm has deep rooted local connections throughout the region, including Australia, Greater China, Korea, and Singapore. Specializing in the consumer & retail and industrial manufacturing & services sectors, Unitas Capital has led some of the largest and most successful leveraged buyouts in Asia, including Mando Corporation, Haitai Confectionery and Buy The Way in Korea, Yellow Pages in Singapore, and Waco and Repco in Australia.
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