Xiabu Xiabu
呷哺呷哺
Native name
呷哺呷哺
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
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. 1 2 "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. 1 2 "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. 1 2 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" (). 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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