Investment to Be Used to Accelerate the Company's Growth Plans in China
NANJING, China and NEW YORK, July 31, 2012 /PRNewswire-Asia/ -- China Kidswant Investment Holdings Co., Ltd ("Kidswant" or "the Company") today announced that an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, will make an equity investment of US$55 million in the Company. The investment will be used to accelerate the Company's growth plans to expand its store counts and geographic coverage.
Headquartered in Nanjing, China, Kidswant is an emerging maternity-infant-children ("MIC") specialty retailer as well as a child growth and development service provider in China that is pioneering an innovative model providing a one-stop solution for customers. This innovative model has been well recognized. This is evidenced by a number of awards including "China Retail Innovation Grand Prize," which is the highest accolade from the China Chain Store and Franchise Association in 2010, and most recently the winner of "21 Future Stars - Emerging Enterprises with Highest Growth in 2012" from China Entrepreneur magazine. The Company was founded in 2009 by the Chairman, Mr. Wang Jianguo, and senior executives Mr. Xu Weihong, Mr. Shen Wei, Mr. Wu Tao and Mr. Shen Hui (together the "Founding Team"). The Founding Team was previously the senior management of Five Star Electronics, a leading electronic retailer in China, which was founded by Mr. Wang.
Since 1966, Warburg Pincus has raised 13 funds and has invested more than US$40 billion in over 650 companies in more than 30 countries. Currently, Warburg Pincus has US$30 billion of total assets under management in different stages of development, from early-stage to mature businesses, and in various industries including petrochemical, pharmaceutical, telecommunication, hi-tech, manufacturing, retail and real estate. Warburg Pincus has invested in many industry leaders since its first investment in China in 1994 including 7 Days Inn, Intime Department Store and Red Star Macalline.
Mr. Wang Jianguo, Chairman of Kidswant said, "Warburg Pincus' investment in Kidswant is a clear indication of its strong conviction in the Company's growth potential as a leader in the Chinese MIC specialty retail subsector."
Mr. Xu Weihong, Chief Executive Officer of Kidswant said, "Warburg Pincus' significant investment experience as a leading private equity firm in China and its known track record of success around the world will be valuable as we enter the next phase of developing the business."
Mr. David Li, Managing Director, Warburg Pincus added, "We are excited about building on Kidswant's success and look forward to working closely with Chairman Wang and his best-in-class management team to further strengthen its market position within China's specialty retail sector."
About Jiangsu Kidswant Co., Ltd
China Kidswant Investment Holdings Co Ltd ("Kidswant") is an emerging maternity-infant-children ("MIC") specialty retailer as well as a child growth and development service provider in China pioneering an innovative model providing a one-stop solution for customers. Headquartered in Nanjing, China, the Company was founded by Chairman Mr. Wang Jianguo, senior executives Mr. Xu Weihong, Mr. Shen Wei, Mr. Wu Tao and Mr. Shen Hui (the "Founding Team") in 2009. The Founding Team was previously the senior management of Five Star Electronics, a leading electronic retailer in China, which was founded by Mr. Wang. Kidswant, which targets medium to high-income households with infants and children up to 14-years-old, currently operates 9 stores in the Yangtze River Delta region and Chongqing.
For more information on Kidswant, please visit www.haiziwang.com.
About Warburg Pincus
Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than US$30 billion in assets under management. Its active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than US$40 billion in over 650 companies in more than 30 countries.
Since the firm's first investment in China in 1994, Warburg Pincus has invested in more than US$3 billion in companies including 7 Days Inn, Guangzhou R&F Properties, Harbin Pharmaceutical, Intime Department Store, Lepu Medical, RDA Microelectronics and China Red Star Macalline.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more information, please visit www.warburgpincus.com.
Media contacts:
For Kidswant
Susan Wang
susan.wang@haiziwang.com
+86 25 8367 9822/+86 189 5160 3970
For Warburg Pincus
Pui Shan Lee, FTI Consulting
ps.lee@fticonsulting.com
+86 21 5108 8002 ext.178
Ed Trissel
+1 212.878.9288
Jeffrey Smith
+1 212.878.9205
