Just a day after the official press release from Bain Capital about their acquisition of a majority share of Daymon Worldwide Reuters reports on the $413 million transaction as well as the inclusion of Chinese supermarket operator Yonghui Superstores Co Ltd in the deal.
Yonghui will invest $165 million for a 40% stake in Daymon, while Bain Capital will buy 60%. The news of the significant Chinese investment points to Bain’s interest in leveraging Daymon to grow business in China.
The Fuzhou-based supermarket chain, Yonghui Superstores Co Ltd, is one of China’s Fortune 500 companies it is China’s fifth-largest hypermarket company. The retailer operates more than 460 supermarkets in 17 provinces and cities including Beijing, Shanghai, Chongqing, Zhejiang and Guizhou.