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UNITAS CAPITAL PARTNERS WITH CHINESE RESTAURANT CHAIN OPERATOR BABELA'S GROUP
Hong Kong, 1 February, 2012 - Unitas Capital today announced that it has closed an investment in Chinese restaurant chain, Babela's Group ("Babela's"), totalling US$40 million. Babela's owns three restaurant brands in China: (i) Babela, an Italian-themed casual dining chain of over 120 stores in Shanghai and Beijing, as well as in tier two and tier three cities; (ii) Bamboo Bifengteng, a Cantonese style casual dining chain in Shanghai and Beijing; and (iii) Aha!, a Taiwanese style dessert chain.
Unitas is acquiring stakes in the company from three minority investors and will work in partnership with the Company's founder, Chen Xing Wei, who will retain his existing stake in the business. Unitas Partner, Jay Lee, is a former senior executive of global quick service restaurant giant, Yum! brands, and will be working with Chen Xing Wei and the management team to further improve and grow the business, as well as investing further amounts to use Babela's as a platform vehicle to acquire other restaurant brands in China.
Eugene Suh, Partner and COO of Unitas Capital, said, "We are strong believers in the growth potential of the chained restaurant space in China and have the unique capability to directly improve and grow brands with our in-house operating capabilities. We've been searching for the right company to use as a platform for further growth in this space and have found the right company in Babela's Group and the right partner in Chen Xing Wei."
Chen Xing Wei, Founder of Babela's Group, commented, "We are delighted that Unitas has recognized the significant growth potential of Babela's Group. Unitas' deep experience of investing in and growing businesses in the consumer sector make the firm a natural partner as we seek to expand nationally."
Unitas is an Asia-based private equity fund which manages over US$4 billion and is focused on investing in the consumer and retail industries as well as in the industrial manufacturing space. Unitas uses its strong group of in-house operators to improve and grow businesses in its portfolio.
Unitas has a strong track record of buying established local brands in the consumer and retail sector, improving their operations to global best standards and then growing these brands significantly.
About Unitas Capital
Unitas Capital is one of the most experienced dedicated regional private equity firms in Asia, with US$4 billion in capital commitments under management. Since 1999, Unitas has advised on investments exceeding US$2.6 billion into 30 companies. Unitas targets control investments in market-leading industrial, branded consumer and retail companies with strong cash-generative business models, barriers to entry and differentiated product capabilities. Unitas has a successful track record of investing in growth-oriented global businesses, in particular those with a large market in Asia but headquarters based outside the region. For further information, visit www.unitascapital.com
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