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Xiabu Xiabu
Chinese hot pot restaurant chain From Wikipedia, the free encyclopedia
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Xiabu Xiabu Catering Management Co., Ltd.[1] or Xiabu Xiabu (Chinese: 呷哺呷哺; pinyin: Xiābǔ Xiābǔ) is a fast food hot pot restaurant chain in China.[2] Its headquarters is in Daxing District, Beijing.[3]
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History
![[icon]](#/media/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (August 2014) |
Founding in 1998
The company was established in 1998.[1]
Business expansion
As of 2008, the company used centralized kitchens, and one hot pot meal at Xiabu Xiabu had a cost of 27 renminbi or $4 U.S. dollars.[4]
In November 2008, Xiabu Xiabu had 53 locations in Beijing. The company planned to have 60 locations by the end of that year.[4]
In 2008, Actis Capital paid $51 million U.S. dollars to acquire a majority stake of Xiabu Xiabu.[5] Actis stated that in a three-year period it wished to increase the number of stores by three times the original number.[6]
2012
In 2012, Actis sold the company to global growth equity firm General Atlantic.[5] Actis intended to be paid $150 million for its sale.[7] In September 2018, the chain lost £145 million in market value after a customer found a dead rat in her soup at an outlet in Weifang.[8]
As of 2012, there were over 300 Xiabu Xiabu restaurants in the cities of Beijing, Shanghai, and Tianjin and the provinces of Hebei, Jiangsu, and Liaoning.[9]
By 2021, there were 1,077 Xiabu Xiabu (and sister brand Coucou) restaurants.[10]
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References
External links
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