Xiabu Xiabu Catering Management Co., Ltd.Company Overview of Xiabu Xiabu Catering Management Co., Ltd.
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Bloomberg Businessweek ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...

''. Retrieved on August 31, 2014. or Xiabu Xiabu () is a fast food

hot pot Hot pot or hotpot (), also known as soup-food or steamboat, is a cooking method that originated in China. A heat source on the dining table keeps a pot of soup stock simmering, and a variety of Chinese foodstuffs and ingredients are served b ...

restaurant chain in China. Its headquarters is in

Daxing District Daxing District () is a district of Beijing, covering the southern suburbs of the city. It borders the Beijing districts of Tongzhou to the east/northeast, Fangshan to the west, Fengtai to the northwest, Chaoyang to the northeast, and the Heb ...

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

History

Founding in 1998

The company was established in 1998.

Business expansion

As of 2008, the company used centralized kitchens, and one hot pot meal at Xiabu Xiabu had a cost of 27 renminbi or $4 U.S. dollars.Actis invests in leading Hot pot chain, Xiabu Xiabu, completing their recent hat-trick of transactions in the Chinese consumer sector
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Actis Capital Actis is a global investment firm focused on the private equity, energy, infrastructure, and real estate asset classes. Actis is a signatory to the United Nations Principles for Responsible Investment (UNPRI), an investor initiative developed b ...

. November 11, 2008. Retrieved on August 31, 2014. In November 2008, Xiabu Xiabu had 53 locations in Beijing. The company planned to have 60 locations by the end of that year. In 2008,

paid $51 million

U.S. dollars The United States dollar (symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official ...

to acquire a majority stake of Xiabu Xiabu.Yuen, Alvina.
Actis exits hotpot chain Xiabu Xiabu to General Atlantic
" '' Asian Venture Capital Journal''. Incisive Media Investments Limited/Incisive Financial Publishing Limited, December 13, 2012. Retrieved on August 31, 2014. Actis stated that in a three-year period it wished to increase the number of stores by three times the original number.

2012

In 2012, Actis sold the company to global growth equity firm

General Atlantic General Atlantic (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. The firm was founded in 1980 as the captive investment team for ...

. Actis intended to be paid $150 million for its sale. In September 2018, the chain lost £145 million in market value after a customer found a dead rat in her soup at an outlet in

Weifang Weifang () is a prefecture-level city in central Shandong province, People's Republic of China. The city borders Dongying to the northwest, Zibo to the west, Linyi to the southwest, Rizhao to the south, Qingdao to the east, and looks out to the ...

. As of 2012, there were over 300 Xiabu Xiabu restaurants in the cities of Beijing, Shanghai, and Tianjin and in the provinces of Hebei, Jiangsu, and Liaoning. By 2021, there were 1,077 Xiabu Xiabu (and sister brand Coucou) restaurants.

References

External links

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Xiabu Xiabu

Xiabu Xiabu
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Restaurants in Beijing 1998 establishments in China Restaurants established in 1998 Fast-food chains of China