Funds advised by CVC Capital Partners ("CVC") today announced the completion of the acquisition of a controlling stake in Da Niang Dumpling Holdings Limited ("Da Niang"), a leading Chinese cuisine quick-service restaurant operator in China, from the founder Mr. Wu Guoqiang, who will remain as a shareholder.

Founded in 1996, Da Niang is a leading Chinese quick-service restaurant ("QSR") operator with a network of over 440 stores in 19 provinces across China. The brand is a household name in China and the most recognized in the dumpling segment. The Company operates an integrated business model and is one of the few Chinese restaurant operators to have successfully standardised a Chinese staple food item and rolled out a national network. The Company employs about 7,000 employees.

Francis Leung, Chairman of Greater China and Managing Partner of CVC, said: "Da Niang is a leading player in the fast growing Chinese quick-service restaurant sector and the number one dumpling chain operator, with a strong and stable management team. Our significant experience in the sector will help solidify Da Niang's market leadership, and we look forward to partnering with the management to take the company to the next level."

Bo Liu, Senior Managing Director at CVC's Shanghai office, said: "We are particularly attracted by Da Niang's sustainable and scalable business model, clear market leadership, significant growth potential and strong dedication to product quality."

Vincent Huang, CEO of Da Niang, commented: "I believe that with its strong foundation and leadership from CVC, Da Niang is well positioned to capitalise on the significant growth potential in China, and will continue to grow and become one of the largest Chinese quick-service restaurant brands across the country."