Venture capital is optimistic about domestic high-end Catering Industry

Raise 3000$, The cross-strait coffee is planned to open 13 in the middle of the yearStore

Zhejiang cross-strait Food Chain Co., Ltd. (hereinafter referred to as "cross-strait coffee") received about $30 million in investment from the Goldman Sachs Group of the International Investment Bank and Watson capital, and planned to expand to stores within two years, log on to the-share market before March 13, March 2010. Yesterday, Yang Jin, chairman of the company, revealed at the signing ceremony that after the financing is completed, cross-strait coffee will focus on the development of cities such as Hangzhou, Wuhan, Tianjin and Chongqing.

Watson capital focuses on high-end Catering Industry

According to insiders, after cross-strait coffee financing is completed, Goldman Sachs and Watson capital will join the board of directors of cross-strait coffee companies and enjoy a 20% stake, according to the strategic cooperation agreement between coffee on both sides of the Taiwan Strait and Goldman Sachs Group and Watson capital, coffee on both sides of the Taiwan Strait will log on to the Shanghai A-share market before March 13, March 2010.

Lin zongsheng, general manager of Watson capital, said that the company is currently in an important staging period in the capital market and has been conducting a five-month inspection on cross-strait coffee. This is the first time that Watson capital entered the catering industry. "As domestic industry and commerce continue to flourish, the high-end catering service industry will create unprecedented business opportunities ." Lin zongsheng said that venture capital companies are optimistic about China's catering industry. In the future, Watson capital venture capital will also focus on this industry.

Zhou Zhiyang, managing director of Goldman Sachs, pointed out that Goldman Sachs will help cross-strait coffee continue to expand its stores and fulfill its listing targets as soon as possible.

Expansion from Chinese to 20 within the yearStore

Lin zongsheng said that Watson capital and Goldman Sachs Group have a specific budget for cross-strait coffee use. According to the agreement, the total number of cross-strait coffee stores will reach 500 in the year, at least one store can be opened every week.

Yang said that after successful financing, the four major regions of East China, central China, North China and northwest China will be expanded, with Hangzhou, Wuhan, Tianjin and Chongqing as the central bases, the Central Kitchen, logistics and distribution, training schools, and coffee bean factories are set up simultaneously to solve problems such as quality assurance, product distribution, and taste consistency. "In the next step, we will use the network of well-known five-star hotels to form an external alliance and jointly expand the market for five-star hotels with high-end Western restaurants and teppanyaki restaurants ."

It is understood that after the establishment of cross-strait coffee in 2003, there are currently a total of 420 direct stores and franchise chain stores nationwide, of which 7 are in Wuhan, and the number of stores in Wuhan is planned to increase to 20 in the year. Cross-Strait coffee is expected to reach 2010 stores in 1000.