Xiabu Xiabu

Xiabu Xiabu
呷哺呷哺
Native name
呷哺呷哺
Company typePublic
SEHK: 520
IndustryRestaurant
Founded1998 (1998)
Headquarters
Beijing
,
China
Websitewww.xiabu.com
Xiabu Xiabu Catering Management Co., Ltd.
Simplified Chinese呷哺呷哺餐饮管理有限公司
Traditional Chinese呷哺呷哺餐飲管理有限公司
Transcriptions
Standard Mandarin
Hanyu PinyinXiābǔ Xiābǔ Cānyǐn Guǎnlǐ Yǒuxiàngōngsī
Headquarters
Xiabu Xiabu restaurant at West Yan'an Road Station in Shanghai

Xiabu Xiabu Catering Management Co., Ltd.[1] or Xiabu Xiabu (Chinese: 呷哺呷哺; pinyin: Xiābǔ Xiābǔ) is a fast food hot pot restaurant chain in China.[2] Its headquarters is in Daxing District, Beijing.[3]

History

Founding in 1998

The company was established in 1998.[1]

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.[4]

In November 2008, Xiabu Xiabu had 53 locations in Beijing. The company planned to have 60 locations by the end of that year.[4]

In 2008, Actis Capital paid $51 million U.S. dollars to acquire a majority stake of Xiabu Xiabu.[5] Actis stated that in a three-year period it wished to increase the number of stores by three times the original number.[6]

2012

In 2012, Actis sold the company to global growth equity firm General Atlantic.[5] Actis intended to be paid $150 million for its sale.[7] 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.[8]

As of 2012, there were over 300 Xiabu Xiabu restaurants in the cities of Beijing, Shanghai, and Tianjin and the provinces of Hebei, Jiangsu, and Liaoning.[9]

By 2021, there were 1,077 Xiabu Xiabu (and sister brand Coucou) restaurants.[10]

References

  1. ^ a b "Company Overview of Xiabu Xiabu Catering Management Co., Ltd." (). Bloomberg Businessweek. Retrieved on August 31, 2014.
  2. ^ Cheung, Sonja. "Asian Private Equity Starts the Week Hungry for Deals." Wall Street Journal. April 28, 2014. Retrieved on August 31, 2014.
  3. ^ "联系我们". Xiabu Xiabu. Retrieved 2022-03-07. 北京市大兴区黄村镇孙村工业开发区海鑫南路15号 呷哺呷哺餐饮管理有限公司
  4. ^ a b "Actis invests in leading Hot pot chain, Xiabu Xiabu, completing their recent hat-trick of transactions in the Chinese consumer sector" (Archived 2014-09-03 at the Wayback Machine). Actis Capital. November 11, 2008. Retrieved on August 31, 2014.
  5. ^ a b 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.
  6. ^ "UPDATE 1-Actis buys major stake in Beijing hot pot company" ([1]). Reuters. Tuesday November 11, 2008. Retrieved on August 31, 2014.
  7. ^ Cheung, Sonja. "Actis Sells Stake in Chinese Hot Pot Chain Xiabu Xiabu." LBO Wire, Dow Jones & Company, Inc. December 13, 2012. Document DJFLBO0020121213e8cdfx6sb. "Actis, which specializes in emerging markets, bought a majority stake in Xiabu Xiabu for $50 million in 2008, and the firm planned to sell its stake for $150 million, according to media reports in April."
  8. ^ "Xiabu Xiabu restaurant loses £145m after pregnant woman finds dead rat in soup". Sky News. 13 September 2018.
  9. ^ "Xiabu Xiabu Completes Investment" (Archived 2014-09-21 at the Wayback Machine). General Atlantic. 12.13.2012. Retrieved on August 31, 2014.
  10. ^ "Hotpot Chain Xiabu Xiabu Comes to a Post-Pandemic Simmer With 58% Revenue Boost - Caixin Global". www.caixinglobal.com. Retrieved 2023-01-05.
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