Juewei Duck Necks Obtained Joint Investment by Jiuding Capital and Fosun
2011-05-24
ChinaVenture, Beijing time on May 24th morning news, ChinaVenture just exclusively learned that Juewi Duck Necks had just obtained an investment of 260 million yuan by the investors including Fosun Group, Jiuding Capital, Huanan Huahong Caixin VC, etc..
As a typical consumption upgrading industry, marinated leisure food sector has been particularly liked by VCs. According to statistics, China’s food and beverage industry in 2009 reached a total consumption amount of 500 billion yuan, and is still consistently increasing at an annual rate of 20%, wherein fast food business and leisure food develops particularly fast and is regarded as one of the nine most promising industries in the next five years.
One PE expert expressed to ChinaVenure, “In 2009, the market scale of marinated food products has exceeded 10 billion yuan and the annual increase is expected to be 20%-30%, which does not yet include the packaged products in supermarkets. This market is just getting off the ground and has a huge potential.”
According to the statistics of the database product CVSource under ChinaVenture, Huangshanghuang Food was invested by Fortune Capital and Guoson in 2009 and 2010, respectively; and Tiantu Capital also invested in Zhouheiya in the end of last year. Juewei Duck Necks was also scrambled for by more than 40 VCs in China.
Many institutes are confident about Juewei Food. Industry experts hold that it conforms to the trend of China’s fast urbanization and consumption upgrade. At present, China is transferring gradually from the previous self-processing food to purchasing convenient and fast food, and the demand for leisure food is expected to grow consistently and quickly.
In some investors’ eyes, Juewei Food adopts as its main business the production and sales of marinated and cooked food products of “Juewei” series with particular tastes, and focuses on non-staple food, and places the sales channels in the mode of commercial franchising. Juewei Food caters to China’s current mainstream of food tastes, thus attracting many young consumers. “Since its founding in 2005, Juewei Food has grasped accurately the trend of the future market development, and has become a leading brand in the field within short years. Juewei Food has the possibility of becoming China’s largest marinated leisure food enterprise.”
At present, Juewei owns multiple bases and a dozen of production factories all over China, thus ensuring product quality, and the company’s sales network has covered main provinces and municipalities of China.