SEAVI Advent Private Equity (“SEAVI Advent”) completed an US$15 million investment in Shenzhen Angel Food Co. Ltd. (the “Company” or “Angel Food”).
The Company is a leading manufacturer and distributor of moon cakes, confectionery food and bakery products with it’s flagship moon cake brand “Angel” which is named the top seller among the competitive moon cake market in Guangdong and its nearby areas. In 2008, to award its manufacturing excellence in the moon cake manufacturing process, the Company was recognized as one of the “National Intangible Cultural Heritage” by the China government.
In 2011, the Company expanded into food catering by setting up a state-of-the-art central kitchen in Shenzhen with a modernized catering production line. The Company was subsequently invited by Universiade 2011 Shenzhen as the catering provider for a daily volume of 80,000 lunch boxes.
The distribution network for the Company’s products includes Angel’s retail outlets, supermarkets, shopping arcades, regional distributors and direct sales in the South China region and also through cooperation with nationwide network like China Post while sales effort will be expanded across other provinces in China. With a strong brand recognition and excellence in food safety, quality and innovation, SEAVI Advent sees Angel Food growth prospects from the strong growing demand for premium quality food in China.
About SEAVI Advent Private Equity
SEAVI Advent Private Equity, the exclusive Asian affiliate of Boston based private equity firm Advent International Corporation, is one of the first private equity and venture capital firms to operate in the Asia Pacific region. Since 1984, the firm has invested over US$500 million into more than 100 Asian companies, from growth to late stage, as well as buyout and control transactions. SEAVI Advent has been instrumental in delivering value for many of its portfolio companies, which include Yangzijiang Shipbuilding (Holdings) Ltd, Chemspec Corporation, Shengli Oil & Pipe Holdings Ltd, Venture Corporation Limited and IDS Group.