GreenTree Group Infuses New Development Strength Into Daniang Dumpling; Daniang Dumpling Transitions from Private Equity to Corporate Holding

Wednesday, 19 April 2017, 11:29 HKT/SGT

HONG KONG, Apr 19, 2017 - (ACN Newswire) - Daniang Dumpling Catering Group Co., Ltd. ("Daniang Dumpling"), one of the largest Chinese fast food restaurant chains, recently announced that GreenTree Inns Hotel Management Group ("GreenTree Group") completed the acquisition of Daniang Dumpling from CVC Capital Partners, and GreenTree Group has become the controlling shareholder of Daniang Dumpling. As such, Daniang Dumpling has transitioned back to corporate holding from private equity holding, which is a milestone in the history of the company.

GreenTree Group operates medium to high end business hotel chains with strong value to consumers and innovative operating and service concepts. By becoming the controlling investor of Daniang Dumpling, GreenTree Group will support Daniang's future development by providing its resources in hotel and catering industries, which is expected to bring explosive growth to Daniang Dumpling. Mr. Wu Guoqiang, the founder of Daniang Dumpling agreed by saying, "Catering enterprises, especially fast food restaurant chains, have their innate driving power for sustainable and healthy development, which cannot be replaced by mere capital investment, instead, we need advanced management concepts and innovative ideas. GreenTree Group's strategic acquisition allows the business to return to corporate business management. With this, I believe Daniang Dumpling will thrive again, and move forward steadily according to our operation philosophy as a classic brand."

GreenTree Group and Daniang Dumpling both agree that the top priority is to provide consumers with quality products and services while ensuring food safety. They also focus on supporting their franchisees and partners to ensure stable revenues and strong returns, so as to achieve a win-win partnership. Finally, both Daniang Dumpling and GreenTree Group will continue to adhere to their "people first" principles, as an outstanding team is the key to company success. Both companies are committed to providing their staff, especially front line staff, with strong career opportunities.

About Daniang Dumpling
Founded in 1996, Daniang Dumpling is one of the largest restaurant chains in China and one of the largest and most recognizable Chinese dumpling brands. Leveraging a uniquely integrated business model covering food production, restaurant operations, central kitchen, brand franchising and frozen food sales, Daniang Dumpling has a network of more than 400 stores in over 100 cities and 17 provinces across China with more than 7,000 employees. Daniang Dumpling has consistently been ranked as one of China's Top 10 Famous Fast Food Brands and one of China's Top 100 Catering Enterprises.

About GreenTree Group
Founded in 2004, GreenTree Group operates cost-effective business hotel chains with innovative operating and service concepts. Its properties include GreenTree Eastern Hotel, GreenTree Inn, Vatica Hotel and GreenTree Alliance Hotel. After 12 years of development, GreenTree Inns operates over 2,600 hotels in more than 400 cities in five countries.

Topic: Press release summary Sectors: Daily Finance, Daily News
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