Private equity firm Actis has acquired a significant minority stake in Chinese biscuit brand Jiashili Food Group.
Jiashili produces plain biscuits and crackers, and holds a major share of the plain biscuit market in China.
Actis is investing alongside the investment by Jiashili's current Chairman and owner, Huang.
Actis Consumer head Andreas von Paleske said that the company has identified significant growth potential for Jiashili, based upon leveraging the company's strong brand and product strength.
"We have great confidence in Mr Huang and the management team at Jiashili, who have driven the company forward over the past seven years," Paleske added.
Jiashili chairman Huang said, "With its long track record of investing and working with Chinese companies and expertise in the global consumer food sector, we see Actis as the ideal partner. We look forward to working with the Actis team as we embark on our next stage of growth."
