Friday, April 03, 2020

China’s GreenTree completes acquisition of Daniang Dumpling

Apr 19. 2017
Facebook Twitter

By The Nation

Daniang Dumpling Catering Group, one of the largest Chinese fast food restaurant chains, said its GreenTree Inns Hotel Management Group has completed the acquisition of Daniang Dumpling from CVC Capital Partners.

GreenTree Group has become the controlling shareholder of Daniang Dumpling. As such, Daniang Dumpling has transitioned back to a corporate holding from a private equity holding.

GreenTree Group operates medium to high-end business hotel chains with strong value to consumers and innovative operating and service concepts. By becoming the controlling investor of Daniang Dumpling, GreenTree Group will support Daniang's future development by providing its resources in hotel and catering industries, which is expected to bring explosive growth to Daniang Dumpling.

Wu Guoqiang, the founder of Daniang Dumpling, said: "Catering enterprises, especially fast-food restaurant chains, have their innate driving power for sustainable and healthy development, which cannot be replaced by mere capital investment. Instead, we need advanced management concepts and innovative ideas.

“GreenTree Group's strategic acquisition allows the business to return to corporate business management. With this, I believe Daniang Dumpling will thrive again, and move forward steadily according to our operation philosophy as a classic brand."

GreenTree Group and Daniang Dumpling say the top priority is to provide consumers with quality products and services while ensuring food safety. They say they are also focusing on supporting their franchisees and partners to ensure stable revenues and strong returns, for “a win-win partnership”. 

“Both Daniang Dumpling and GreenTree Group will continue to adhere to their ‘people first’ principles, as an outstanding team is the key to company success. Both companies are committed to providing their staff, especially front line staff, with strong career opportunities,” the companies said.

Facebook Twitter
More in Business
Editor’s Picks
Top News