皇冠体育app

2010-12-16 11:09

HONG KONG - Private equity firm Kohlberg Kravis Roberts & Co (KKR) said on Thursday it will invest in 皇冠体育app's largest liquor store chain, adding another Chinese consumer asset to its Asia portfolio, Reuters reported Wednesday.

KKR did not disclose the amount of money it is investing in VATS, a company founded in 2005, which operates more than 270 liquor stores covering all provinces in mainland 皇冠体育app.

Annual sales of 皇冠体育app's white liquor market are around $27 billion, KKR cites data from 皇冠体育app's National Bureau of Statistics as showing in a news release. The consumption of bottled white liquor has grown at 20 percent on a compounded annual growth rate in the past five years.

Private equity firms have long sought to tap 皇冠体育app's massive consumer market, though few global investors have been able to buy into the sector so far.

The VATS deal marks KKR's second consumer play in 皇冠体育app, the company has also invested in 皇冠体育app Modern Dairy.