 |
 |
 |
 |
 |
 |
||
|
|
||
CCMP CAPITAL ASIA ANNOUNCES LBO OF BUY THE WAY INCJuly 20, 2006, Hong Kong – Korea Retail Holdings B.V. (“KRH”), a Netherlands company formed by Funds managed by CCMP Capital Asia (“CCMP”, formerly JP Morgan Partners Asia) announced today that it has purchased 100% of Buy The Way Inc. (“Buy The Way” or the “Company”), a leading chain of convenience stores based in Korea and formerly owned by Orion Corp, a major Korean media and entertainment company. The acquisition was structured as a leveraged buyout transaction in partnership with the Company’s management team. The debt financing was lead-arranged by JP Morgan Chase & Co.. Buy The Way is one of the fastest growing convenience store chains in Korea with approximately 1,000 stores nationwide and over US$400 million in revenues. Buy the Way provides Korean consumers with a wide array of confectionary, beverage, and fast-food products through a store network conveniently located in densely populated office, residential, entertainment and educational areas, primarily in the Seoul metropolitan area. CCMP believes that Buy the Way represents an attractive platform for participation in the rapidly developing convenience store industry in Korea, where growth of higher-margin products, such as fast-food, private label, premium coffee and breakfast offerings is anticipated to develop rapidly as convenience stores displace traditional “mom and pop” stores, and as Korea’s GDP per capita rises. CCMP will also be partnering with Hong Kong-based Convenience Retail Asia (“CRA”) which operates over 300 Circle K stores in Hong Kong, China and Macau and which will advise CCMP and the Company on further developing its store networks and business model. About CCMP CCMP Capital Asia, formerly known as JP Morgan Partners Asia, is one of the largest and most experienced financial sponsors in Asia with US$2.7 billion under management. CCMP Capital Asia’s first fund, the US$1.1 billion Asia Opportunity Fund (“AOF I”), was closed in 2000 and was one of the first pan-Asia leveraged buyout oriented investment funds raised for the region. Asia Opportunity Fund II (“AOF II”) was recently closed in August of 2005 at US$1.59 billion. CCMP Capital Asia has advised total investment commitments of over US$1.3 billion in 21 companies to date, with total transaction value of over US$8 billion. The commitments are spread across Asia in CCMP Capital Asia’s focus markets of Japan, Korea, Greater China, Singapore and Australia. CCMP Capital Asia’s core strategy is to target investments in market leading consumer and industrial companies with strong cash generative business models, high barriers to entry and differentiating capabilities or products. In particular, CCMP Capital Asia focuses on companies where it is able to utilize its operationally driven business model to create value and drive returns. CCMP Capital Asia has 21 investment professionals located in Hong Kong, Tokyo, Seoul, Shanghai and Melbourne. Back to Press Releases |
||
|
|
||
|
CCMP Capital Asia Ltd. was formed in October 2005. Previously, the firm's management team operated and managed J.P. Morgan Partners Asia, a private equity affiliate of JPMorgan Chase & Co. The historical information and biographies presented reflect the activities of CCMP Capital Asia professionals while managing J.P. Morgan Partners Asia. Nothing contained herein constitutes an offer to sell or a solicitation of an offer to purchase any investments or securities of any investment vehicles. © 2006 CCMP CAPITAL ASIA LTD. All rights reserved. |
||
 |
|
|