Bahrain’s Investcorp buys majority stake in China food and lifestyle retailer City Super
Bahrain-headquartered Investcorp and China Resources Capital Management Limited are buying a majority ownership position in City Super from Fenix Group and the Lane Crawford Joyce Group.
Fenix and Lane Crawford Joyce will continue to hold a 35% stake in City Super, according to a bourse filing from Investcorp on Tuesday (September 8).
City Super is a high-end food retailing and lifestyle business operating in Hong Kong, Shanghai, and Taiwan. Its three brands are City’Super, LOG-ON and cookedDeli. It has 20 stores in Hong Kong, six in Shanghai and seven in Taiwan, according to its website.
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