Xiabu Xiabu Catering Management Co., Ltd."" (). Bloomberg Businessweek. Retrieved on August 31, 2014. or Xiabu Xiabu () is a fast food hot pot restaurant chain in China.Cheung, Sonja. "Asian Private Equity Starts the Week Hungry for Deals." Wall Street Journal. April 28, 2014. Retrieved on August 31, 2014. Its headquarters is in Daxing District, Beijing.
History The company was established in 1998.
As of 2008, the company used centralized kitchens, and a hot pot meal at Xiabu Xiabu cost 27 renminbi (approximately $4 U.S. dollars)."Actis invests in leading Hot pot chain, Xiabu Xiabu, completing their recent hat-trick of transactions in the Chinese consumer sector" (). Actis Capital. November 11, 2008. Retrieved on August 31, 2014. By November 2008, Xiabu Xiabu operated 53 locations in Beijing, with plans to expand to 60 locations by the end of the year. That same year, Actis Capital paid $51 million U.S. dollars to acquire a majority stake of Xiabu Xiabu,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. stating an aim to triple the number of stores within a three-year period."UPDATE 1-Actis buys major stake in Beijing hot pot company" (). Reuters. Tuesday November 11, 2008. Retrieved on August 31, 2014.
As of 2012, there were over 300 Xiabu Xiabu restaurants across Beijing, Shanghai, Tianjin, and the provinces of Hebei, Jiangsu, and Liaoning."Xiabu Xiabu Completes Investment" (). General Atlantic. 12.13.2012. Retrieved on August 31, 2014. Also in 2012, Actis sold the company to global growth equity firm General Atlantic, intending to secure $150 million from the sale.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."
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.
By 2021, there were 1,077 restaurants under the Xiabu Xiabu brand and its sister brand, Coucou.
References
External links
Xiabu Xiabu Xiabu Xiabu - General Atlantic