Legal DealFolio - Fosun International Investment in Secret Recipe

DLA Piper advised Fosun International on its RMB210,500,000 investment in, and strategic partnership with, food and beverage chain Secret Recipe, to become the second largest shareholder of Malaysia's well-known restaurant chain. Established in 1997, Secret Recipe is Southeast Asia's largest casual dining chain group, with over 300 restaurants across Asia, including: Malaysia, China, Singapore, Indonesia, Thailand, Philippines, Brunei, Myanmar, India and Cambodia. Secret Recipe also holds a strategic partnership with Darden Restaurants Inc., a NYSE listed leading restaurant chain in North America with famous brands such as Red Lobster, Olive Garden and LongHorn Steakhouse. This is the first investment by Fosun into an overseas restaurant chain and is aligned with their strategy of investments in overseas assets in sectors that would significantly benefit from China's growth momentum, with a view to participating in the rapid development of China's economy. Fosun's investment in Secret Recipe is its first investment in Malaysia and will allow the Fosun Group to invest into the ASEAN markets. The investment also reflects the comprehensive strategic partnership entered into between China and Malaysia in October 2013 to encourage increased bilateral trade between the two nations. The partnership will also enable Secret Recipe to further its ambitious expansion plans of growing the brand internationally, in particular in China where outlets are expected to double by 2015, from more than 50 outlets currently. The DLA Piper team was led by partner Heng Loong Cheong (Corporate, Hong Kong) and supported by a core team of Angela Cheung, Farrah Saleem, Janice Ma and Christopher Elliott (all Corporate, Hong Kong).

Deal Date:	24-02-2014	Practice Area:	Corporate and M&A
Deal Title:	Fosun International Investment in Secret Recipe	Industry:	Travel & Leisure
Description:	DLA Piper advised Fosun International on its RMB210,500,000 investment in, and strategic partnership with, food and beverage chain Secret Recipe, to become the second largest shareholder of Malaysia's well-known restaurant chain. Established in 1997, Secret Recipe is Southeast Asia's largest casual dining chain group, with over 300 restaurants across Asia, including: Malaysia, China, Singapore, Indonesia, Thailand, Philippines, Brunei, Myanmar, India and Cambodia. Secret Recipe also holds a strategic partnership with Darden Restaurants Inc., a NYSE listed leading restaurant chain in North America with famous brands such as Red Lobster, Olive Garden and LongHorn Steakhouse. This is the first investment by Fosun into an overseas restaurant chain and is aligned with their strategy of investments in overseas assets in sectors that would significantly benefit from China's growth momentum, with a view to participating in the rapid development of China's economy. Fosun's investment in Secret Recipe is its first investment in Malaysia and will allow the Fosun Group to invest into the ASEAN markets. The investment also reflects the comprehensive strategic partnership entered into between China and Malaysia in October 2013 to encourage increased bilateral trade between the two nations. The partnership will also enable Secret Recipe to further its ambitious expansion plans of growing the brand internationally, in particular in China where outlets are expected to double by 2015, from more than 50 outlets currently. The DLA Piper team was led by partner Heng Loong Cheong (Corporate, Hong Kong) and supported by a core team of Angela Cheung, Farrah Saleem, Janice Ma and Christopher Elliott (all Corporate, Hong Kong).
Financial Center:	Hong Kong	Value:	100.01-500.00
Advised Party:	Private Equity Investor	Law Firm	DLA Piper
Target Company Jurisdiction	Malaysia	Acquiror Jurisdiction	China
Classification:	Financial Buyer Acquisitions Minority Investment	Lawyer	Heng Loong Cheong

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers