Divestments

CFB Group

The largest ice cream restaurant chain and the second largest pizza restaurant chain in China

CFB Group operates two renowned international restaurant chains, Dairy Queen (DQ) and Papa John's Pizza (PPJ) in China, and is the world's largest franchisee of DQ and the largest franchisee of PPJ outside the United States

  • Sector
    Consumer Goods
  • Country
    China
  • Fund
    EQT Mid Market
  • Entry
    2013
  • Exit
    2021-12-30
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CFB Group was founded in 2003 and is today the largest ice cream restaurant chain and the second largest pizza restaurant chain in China.

Both the out-of-home ice cream market and pizza restaurant industry in China have grown rapidly in recent years. Such rapid growth is driven primarily by accelerating urbanization, development of lower tier cities, increase in disposable income, as well as inherent market growth from current low level of ice cream and pizza consumption in China compared to developed economies. Going forward, further development of low tier cities and their urbanization will create strong market potential.

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