8 September 2021
BDA advises Argan and BiYiDe on growth capital raise
Growth capital raise
BDA Partners is pleased to announce that its client, Argan Capital, has raised significant new growth capital for its hard discount grocery portfolio company, BiYiDe. The new capital came from a blue-chip mainland Chinese corporate investor.
BDA was the exclusive financial advisor to Argan Capital and BiYiDe on the transaction.
Established in 2017 and headquartered in Shanghai, BiYiDe is China’s first – and only significant – hard discount grocery operator, delivering quality branded and private label products at the lowest prices in the market. Its footprint covers 160+ self-operated neighborhood stores in Shanghai and the neighboring Jiangsu Province, complemented by rapidly-growing digital operations, including online ordering and fulfilment capabilities, to extend its reach to consumers.
BiYiDe intends to deploy the growth capital to accelerate its store expansion strategy and broaden its exposure to other cities in eastern China.
Lloyd Perry, Partner, Argan Capital said: “BiYiDe is a uniquely positioned business that is developing very rapidly. We look forward to further expanding the company’s footprint and market share.”
Jeffrey Wang, Partner, BDA, said: “We are delighted to have advised Argan and BiYiDe on this growth transaction. BiYiDe is a pioneer in the Chinese grocery retail landscape. We look forward to it increasing its market leadership position in the years to come. This result continues BDA’s strong momentum in the Consumer & Retail sector across Asia.”
BiYiDe is the leading hard discount grocery operator in China, with over 160 neighborhood locations in Shanghai and Jiangsu Province. Its mission is to provide high quality, essential daily household products at the lowest possible prices, with an assortment spanning basic foodstuffs like rice, oil, sauces, snacks and beverages, personal care items like soaps and toothpaste, and household items like cleaning products and detergents. www.biyide.cn
About Argan Capital
Argan Capital is a leading independent European private equity firm focused on acquiring and developing mid-market companies. Active in the private equity market for over 20 years, the Argan Capital team has a strong track record of successful investments. Through active ownership with a focus on organic growth initiatives and strategic add-on acquisitions, improvement of core processes, industrial transformation and international development, Argan Capital is committed to creating long-term value for its portfolio companies and outstanding returns for its investors. www.argancapital.com
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com
Strategic partnership with KVision
Series D capital raise
Divested Sundance Mountain Resort to Broadreach Capital and Cedar Capital
Series B capital raise
Divested Young Toys to MiraeN Group
Strategic partnership in China and investment by EverYi Capital
Acquired Rich Graviss
Divested controlling stake to Grass Green Group
Divested assets to Centric Brands
Divested a 70% stake to Affirma/SCPE
Divested Alliance Cosmetics Group to Mandom
Investcorp invested up to $250m in China Everbright New Economy Fund
Divested Leyou to Warburg Pincus
Divested Chinese RTW business to a Hong Kong-based investor
Divested Gourmet Noodle House to GreenTree Inns
Growth capital raise
Divested Harrys of London to Charles Cohen
Acquired Chinese food ingredients company, Tianning Flavours
Merged with Fitness First Asia, led by Navis Capital
Raised growth capital