EQT Buys Dairy Queen, Papa John's Pizza Operator In China

Law360, New York (December 16, 2013, 5:17 PM EST) -- Accelerated urbanization in China has inspired private equity firm EQT to buy a majority stake in China F&B Group, the largest foreign operator of both Dairy Queen and Papa John’s Pizza franchises, the firm announced on Monday.

F&B has more than 500 restaurants in China, including franchises of both Dairy Queen, the country’s largest ice cream restaurant chain, and Papa John’s Pizza, the country’s second-largest pizza restaurant chain.

The Swedish firm has a strong track record in developing chain stores and will use F&B to grow...
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