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- Corner omputer Desk
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Private equity firms eye cafe chain
21food.com 2008-04-08
INVESTMENT bank Goldman Sachs and Chinese private equity firm Whitesun Equity Partners LP will jointly invest US$30 million into China's coffee shop chain C. Straits Cafe.
The deal came at a time when a growing number of private equity firms have eyed China's rapidly developing fast-food chain industry with people's increased incomes and an emerging Western lifestyle.
David T.S. Lin, cofounder and managing general partner of Whitesun, said the two strategic investors won't have controlling stakes in the Hangzhou-headquartered coffee chain but will be able to appoint representatives to C. Straits Coffee's board.
