Subsidiaries of funds advised by Apax Partners, one of the largest private equity investment groups in Europe, have announced that they have completed the acquisition of Golden Jaguar restaurant chain in China.
Founded in 2003 and headquartered in Shanghai, Golden Jaguar has developed rapidly in recent years. Its operating areas now cover cities like Shanghai, Beijing, Shenzhen, Shenyang, Nanjing, and Wuhan. Featuring a high-end buffet style, Golden Jaguar provides over 400 kinds of Chinese and international dishes.
Located in shopping malls, department stores, and stand-alone locations, the Golden Jaguar restaurants are roughly the size of 5,000 square meters and can accommodate no less than 400 customers. Apart from offering buffet, the restaurants also provide wedding banquet services.
Richard Zhang, partner at Apax and head of Apax Greater China, told local media that Apax is focused on identifying and capturing consumer and retail opportunities that capitalize on China's continued domestic consumption growth. Golden Jaguar has an attractive business model and a proven track record. They believe there are substantial opportunities to extend the company's footprint across China while continually improving operational performance in the years to come. The retail and consumer group and the local China office worked seamlessly together on this opportunity to invest significant capital in Golden Jaguar.
Alex Pellegrini, partner in the retail and consumer group at Apax, also is quoted by local media as saying that they are excited to kick off this new chapter in the history of Golden Jaguar. They look forward to partnering with Golden Jaguar's existing management team to accelerate the growth of the business.
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice and management of Apax Partners globally total around USD40 billion. These funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners funds invest in companies across its global sectors of tech and telecom, retail and consumer, media, healthcare and financial and business Services.