Xiabu Xiabu

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]

Xiabu Xiabu
呷哺呷哺
Native name
呷哺呷哺
TypePrivate
IndustryRestaurant
Founded1998 (1998)
Founder呷哺呷哺餐饮管理有限公司
Headquarters
Beijing
,
China
Websitewww.xiabu.com
Xiabu Xiabu Catering Management Co., Ltd.
Traditional Chinese呷哺呷哺餐飲管理有限公司
Simplified Chinese呷哺呷哺餐饮管理有限公司
Xiabu Xiabu restaurant at West Yan'an Road Station in Shanghai

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

References
  1. "Company Overview of Xiabu Xiabu Catering Management Co., Ltd." (Archived 2014-08-31 at WebCite). 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. "呷哺呷哺餐饮管理有限公司招聘启事" (Archived 2014-08-31 at WebCite). Beijing University of Agriculture. 2014-04-23. "我们的联系方式 呷哺呷哺（中国）总部地址：北京市大兴区黄村镇孙村工业开发区海鑫南路15号"
  4. "Actis invests in leading Hot pot chain, Xiabu Xiabu, completing their recent hat-trick of transactions in the Chinese consumer sector" (Archived 2014-08-31 at WebCite). Actis Capital. November 11, 2008. Retrieved on August 31, 2014.
  5. 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" (Archived 2014-08-31 at WebCite). 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 2014-08-31 at WebCite). General Atlantic. 12.13.2012. Retrieved on August 31, 2014.
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