Category: Food & Beverage

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Vietnamese community offers face masks for Russian city

The Vietnamese community in Irkutsk city of Russia has donated 4,000 cloth face masks for a local voluntary campaign in support of the fight against…

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UPDATE: McDonald’s Becomes the First Restaurant Company to Set Approved Science Based Target to Reduce Greenhouse Gas Emissions

Company Expected to Prevent 150 Million Metric Tons of Emissions by 2030 OAK BROOK, Ill., March 20, 2018 (GLOBE NEWSWIRE) — Today, McDonald’s announces it will partner with franchisees and suppliers to reduce greenhouse gas emissions related to McDonald’s restaurants and offices by 36% by 2030 from a 2015 base year in a new strategy […]

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McDonald’s Becomes the First Restaurant Company to Set Approved Science Based Target to Reduce Greenhouse Gas Emissions

Company Expected to Prevent 150 Million Metric Tons of Emissions by 2030 OAK BROOK, Ill., March 20, 2018 (GLOBE NEWSWIRE) — Today, McDonald’s announces it will partner with franchisees and suppliers to reduce greenhouse gas emissions related to McDonald’s restaurants and offices by 36% by 2030 from a 2015 base year in a new strategy […]

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First World Coffee Producers Forum plots roadmap to deal with common challenges

An Action Plan to be developed with specific goals, the conduction of an independent study, and the formation of a Committee with wide representation of different links of the global coffee chain stand out among the final resolutions adopted by the Forum, which ended Wednesday MEDELLIN, Colombia, July 13, 2017 (GLOBE NEWSWIRE) — The first […]

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Mérieux NutriSciences Relocates Canadian Food Testing Laboratory

Food Testing Lab Expands Offerings in Burnaby, British Columbia BURNABY, British Columbia, May 11, 2017 (GLOBE NEWSWIRE) — Mérieux NutriSciences, a leading international network of accredited food testing laboratories, announced today that it has moved one of its four Canadian food testing labs to a new, 24,000 square foot facility, just miles from its former […]

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Nespresso Launches Its 2020 Sustainability Ambition and the Nespresso Sustainable Development Fund

MILAN, Aug. 27, 2014 /PRNewswire/ —

CHF 500 million overall investment, with CHF 15 million to develop AAA coffee growing programs in Africa 

On the occasion of the second annual meeting of the Nespresso Sustainability Advisory Board, Jean-Marc Duvoisin, CEO of Nestle Nespresso, set out an ambitious strategy to accelerate the company’s sustainability focus and introduce several major new initiatives that will create significant benefits for the business, society and the environment.  The new sustainability program entitled The Positive Cup will be based on an investment of CHF 500 million over the next six years. Part of this investment will be used to establish a new Sustainable Development Fund, which will play a key role in channelling resources into specific projects. The new strategy is supported by members of the Nespresso Sustainability Advisory Board (NSAB) including the Rainforest Alliance, Fairtrade International, the International Union for the Conservation of Nature (IUCN) and brand ambassador George Clooney.

     (Photo: http://photos.prnewswire.com/prnh/20140827/703180 )

The Positive Cup strategy, based on the Nestle approach to Creating Shared Value, builds upon the significant steps that the company has already taken over the last five years*  to improve farmer welfare and drive environmental sustainability in coffee sourcing and consumption. It sets out concrete steps that the company will implement to achieve its sustainability goals by 2020. The fund will be used to finance the range of programs, which form part of the strategy as well as to attract additional external partner funding.

“Our sustainability approach has always been designed to do more than simply minimise impacts,” said Mr. Duvoisin. “The development of even more innovative programs with our partners demonstrates our commitment to creating shared value and generating positive impacts for all stakeholders across the entire value chain. This CHF 500 million investment significantly builds on our current sustainability investment to ensure the long-term success of our business model. This includes securing access to the one to two percent of coffee produced in the world that meets our strict quality and taste standards through our AAA Sustainable Quality™ Program. This approach also allows us to innovate thanks to the direct relationships we build with farmers. The Sustainable Development Fund will allow us to allocate new funding to groundbreaking programs such as the reviving of the coffee sector in South Sudan.”

The Positive Cup Commitments 

The Positive Cup program incorporates ambitious goals in the areas of coffee sourcing and social welfare; aluminium sourcing, use and disposal; and resilience to climate change.  Specifically, by 2020 Nespresso commits to:

Coffee – 100% sustainably sourced coffee 

  • Source 100% of its permanent range of Grand Cru coffees sustainably through the Nespresso AAA Sustainable Quality™ Program by significantly expanding the AAA Program in Ethiopia, Kenya and South Sudan, and investing over CHF 15 million in these countries over six years.
  • Assist farmers to achieve high certification standards (in water management, biodiversity and fair treatment of workers, for example) through our long-term partner Rainforest Alliance (since 2003) and Fairtrade.
  • Pursue innovative solutions to farmer welfare, including the expansion of the AAA Farmer Future Program initially through a retirement fund for farmers in Colombia.

Aluminium – 100% sustainably managed aluminium 

  • Expand the capacity to collect used aluminium capsules to 100% wherever the company does business and increase recycling rates.
  • Recycle Nespresso capsules collected by the company into new Nespresso capsules each time it makes sense environmentally**.
  • Source 100% of virgin aluminium capsule material compliant with the new Aluminium Stewardship Initiative standard, being developed within a multi-stakeholder programme led by the IUCN.

Climate – 100% carbon insetting***

  • Further reduce by 10% the carbon footprint of the company.

In addition, become 100% carbon neutral. Nespresso plans to inset its residual operational carbon footprint and increase farm climate resilience through an extensive agroforestry programme.

“Our business model enables us to be involved in every stage of coffee sourcing, production and sale. It allows us to maintain particularly close relationships and have a direct dialogue with our consumers and Club Members,” said Mr. Duvoisin. “As a result, we have a unique opportunity to strongly engage with our Club Members to achieve our Positive Cup commitments, in particular as it relates to capsule recycling. Nespresso cannot achieve its objectives alone. We call on our Club Members to actively take part in furthering our recycling efforts.”

Nespresso Sustainability Advisory Board – Driving innovation and collaboration 

The second annual NSAB brought together long-time Nespresso brand ambassador George Clooney, partners including The Rainforest Alliance, Fairtrade International, TechnoServe, IUCN and Pur Projet and Nespresso management, to help the company enhance its long term sustainability strategy and to serve as a base for partnership on sustainability initiatives.

The collaborative platform has played an important role in shaping the company’s approach and informing the development of innovative and impactful programs.

“We are proud of our long-standing relationship with Nespresso,” said Tensie Whelan, President of the Rainforest Alliance. “This cutting edge approach will help us further build on the real impact we together are having on the ground in farming communities, driving economic and environmental benefits for over 60,000 farmers who are part of the AAA Program. The Nespresso commitment to increase the amount of Rainforest Alliance certified coffee to 50% is an important next step in our collaboration and will provide further assurances to consumers that the coffee they are buying is having a positive impact.”

“The AAA Farmer Future Program, coming out of the Nespresso and Fairtrade commitment to work together, will bring measurable benefits to farmers and their families in Caldas, Colombia,” said Harriet Lamb, CEO of Fairtrade International. “Farmers selling to Nespresso now have the option to invest Fairtrade Premiums in this first-of-its-kind retirement fund. It’s good news for the farmers – whose average age is over 50 and who face an uncertain future – and one way to help protect the future of coffee in Colombia by offering better, long-term prospects.”

“If there is to be lasting peace and prosperity in South Sudan, part of the equation will be a diversified economy and opportunities that benefit the people of the country,” said George Clooney. “The investment by Nespresso and TechnoServe in South Sudan’s coffee sector, even while the conflict is ongoing, is providing much-needed income for hundreds of farmers and their families living in coffee communities. It is also an investment in South Sudan’s future prospects for peace and economic development, where wealth is created and shared. What Nespresso and TechnoServe are doing in partnership with South Sudanese agricultural cooperatives in the coffee sector can provide a model for other agricultural investments.”     

“The approach that Nespresso is taking is completely aligned with the vision we have to integrate social and environmental innovations into the heart of business,” said Tristan Lecomte, President of Pur Projet. “We believe that investing in reforestation of agricultural regions will not only restore natural ecosystems but ultimately also improve coffee quality and productivity and provide better returns for farmers.”

“We are pleased to be able to work with Nespresso to foster greater sustainability and transparency throughout the aluminium value chain,” said Julia Marton-Lefèvre, Director General of IUCN.  “The forward looking approach that the company is taking to further expand its recycling solutions and encourage consumers to recycle will be greatly strengthened by the commitment to source 100% of virgin aluminium capsule material compliant with the new Aluminium Stewardship Initiative standard. The company has played a leading role in initiating the new standard and continues to be a strong proponent for sustainable aluminium use.”

* Nespresso 2013 sustainability commitments 

Nespresso has met and surpassed its 2013 sustainability commitments, set out in 2009. The company has exceeded its goal of sourcing 80% of its coffee from its AAA Sustainable Quality™ Program (84%), putting in place the capacity to recycle over 75% of Nespresso capsules sold worldwide (80%) and reducing the carbon footprint of a cup of Nespresso coffee by 20% (-20.7%).

** For example, in UK, France, Switzerland, Belgium, Luxembourg, Netherlands, Austria and Italy.

*** Definition of insetting: unlike “offsetting” traditional carbon compensation where compensation takes place in a different location using uncorrelated actors and technical activities, “insetting” integrates socio-environmental commitments at the heart of the companies’ business activities and networks.

More information: 

Videos: http://www.youtube.com/nespresso 

Backgrounders on AAA Program in Africa, AAA Farmer Future Program and agroforestry available here: http://www.nestle-nespresso.com/media/library/documents

Nespresso Sustainability Advisory Board members and description: http://www.nestle-nespresso.com/ecolaboration/sustainability-advisory-board/sustainability-advisory-board

About Nestle Nespresso SA 

Nestle Nespresso SA is the pioneer and reference for highest-quality portioned premium coffee. Headquartered in Lausanne, Switzerland, Nespresso operates in almost 60 countries and has more than 9,500 employees. In 2013, it operated a global retail network of over 320 exclusive boutiques. For more information, visit the Nestle Nespresso corporate website: http://www.nestle-nespresso.com.

CONTACT
Diane Duperret
Corporate PR Manager, Nestle Nespresso SA    
[email protected]
T: +41-21-796-92-89

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Canola is not Rapeseed: Plants Different with Distinct Oils

Setting Record Straight on Unique Canola Plant and its Healthy Oil

BEIJING, Aug. 26, 2014  /PRNewswire/ — Canola oil is widely regarded as heart-healthy and versatile by health professionals and chefs, but some consumers may not understand why – or know what canola is in the first place.

“Canola is often confused with rapeseed, but the two crops and their oils are distinctly different both compositionally and nutritionally,” explains Bruce Jowett, vice president of market development at the Canola Council of Canada.

Canola oil comes from the crushed seeds of the canola plant, which is a member of the Brassica family that includes broccoli, cabbage and cauliflower. It was developed in Canada through traditional plant breeding to remove two undesirable components (erucic acid and glucosinolates) found in rapeseed. To acknowledge these differences, the new plant earned a new name, canola – a contraction of “Canadian” and “ola” meaning “oil.”

“By an internationally regulated standard, canola oil is very low in erucic acid (less than 2%) whereas rapeseed oil is high in it (about 40%) with a different taste and appearance,” Jowett noted. “Most rapeseed oil sold in China is classified as grade four and much darker in color with a slightly pungent flavor, whereas canola oil is light in color, texture and flavor.”

The oil extracted from canola plants is one of the healthiest in the world. Doctors and nutrition experts laud canola oil for both what it does contain and what it doesn’t. Of all common cooking oils, canola has the most plant-based omega-3 fat (11 percent) and the least saturated fat (7 percent) – half that of olive oil (15 percent). Canola oil is also rich in monounsaturated fat (61 percent) and free of trans fat.

“Since heart disease and diabetes are leading causes of death in China, it’s critical to lower intake of saturated fat and to consume a moderate amount of healthy fats instead,” says Dr. Liu Na, senior nutrition expert in Beijing. “Canola oil is simply a smart choice as an everyday cooking oil.”

In fact, the U.S. Food and Drug Administration authorized a qualified health claim on canola oil’s ability to reduce the risk of heart disease when used in place of saturated fat. Research has shown that the oil’s high unsaturated fat content (93 percent) helps lower “bad” LDL cholesterol, thereby reducing the risk of heart disease. Unsaturated fats are made up of mono- and polyunsaturated fats, including omega-3 and omega-6 fats.

“The types of omega-3 and -6 fats found in canola oil are considered ‘essential’ in the diet because the body can’t make them on its own,” notes Liu. “Canola oil is higher in omega-3 fat than other common cooking oils so it’s an easy way to get some of this often underconsumed nutrient in the diet.”

Moreover, chefs consider canola oil a kitchen essential, too. Its neutral flavor, light texture and high heat tolerance (smoke point of 242 °C / 468 °F) make it a match for almost any culinary application.

“I love cooking with canola oil because it’s very versatile and allows Chinese ingredients to shine,” agrees Da Cai, cookbook author and well known food blogger. “I use it for sautéing, deep-frying, baking, vinaigrettes – you name it. The fact that it’s healthy as well makes my decision to use it for my family and readers easy.”

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The “Winner” is Back!

KUALA LUMPUR, Malaysia, Aug. 25, 2014 /PRNewswire/ — With a well-earned reputation as Asia’s leading event for the feed, livestock and meat industries since its inception in 2001, LIVESTOCK ASIA 2015 EXPO & FORUM is set to return once again at the Kuala Lumpur Convention Centre from 21- 23 September, 2015. The 2015 show is expected to attract over 7,000 industry professionals and top decision makers to get updates on the latest innovations, which includes a programme of informative seminars providing invaluable information covering the latest developments in the feed, livestock and meat industries.

From Left: Prof. Dr. Zulkifli, Dato’ Dr. Vincent, Dr. Raghavan, Tan Sri Dr Ahmad Mustaffa, Prof. Datin Paduka Dr. Aini, Jeffrey Ng and Rose Chitanuwat.

From Left: Prof. Dr. Zulkifli, Dato’ Dr. Vincent, Dr. Raghavan, Tan Sri Dr Ahmad Mustaffa, Prof. Datin Paduka Dr. Aini, Jeffrey Ng and Rose Chitanuwat.

Recognised as the Mother event for the Asian Livestock Series, the Steering Committee team that has been formed to make the event a great success and more prestigious are leaders in livestock industry. Moreover, the World Poultry Science Association (WPSA) and World Poultry Veterinary Association (WPVA) of Malaysia will jointly organize a scientific conference during LIVESTOCK ASIA 2015.

The chairman of UBM Malaysia as well as the founder of the Livestock event, Tan Sri Dr. Ahmad Mustaffa Babjee, chaired the 2nd Livestock Asia Steering Committee Meeting held last week, making LIVESTOCK ASIA 2015 the most successful event to provide ongoing support to grow and develop Malaysia’s livestock industries. The members are:

  • Tan Sri Dr Ahmad Mustaffa Babjee, Chairman, UBM Malaysia
  • Dr. Raghavan, Livestock Consultant
  • Dato’ Dr. Vincent Ng, President, Veterinary Association Malaysia (VAM)
  • Prof. Prof. Dr. Zulkifli Idrus, President, World Poultry Science Association (WPSA) Malaysia
  • Prof. Datin Paduka Dr. Aini Ideris, President, World Poultry Veterinary Association (WPVA) Malaysia
  • Mr.Jeffrey Ng, Secretary General Federation of Livestock Farmers’ Associations of Malaysia (FLFAM)

Livestock Asia Expo & Forum presents the best opportunities for organisations to increase their brand exposure as they capitalize on special networking opportunities at this major event. To learn more about the show, please log on to http://www.livestockasia.com.

Notes to the Editor

About UBM Asia (www.ubmasia.com)

Owned by UBM plc listed on the London Stock Exchange, UBM Asia is Asia’s leading exhibition organiser and the biggest commercial organiser in mainland China, India and Malaysia. Established with its headquarters in Hong Kong and subsidiary companies across Asia and in the US, UBM Asia has a strong global presence in 25 major cities with 30 offices and over 1,400 staff.

With a track record spanning over 30 years, UBM Asia operates in 21 market sectors with 160 dynamic face-to-face exhibitions, 75 high-level professional conferences, 28 targeted trade publications, 18 round-the-clock vertical portals and virtual event services for over 1,000,000 quality exhibitors, visitors, conference delegates, advertisers and subscribers from all over the world. We provide a one-stop diversified global service for high-value business matching, quality market news and online trading networks.

UBM Asia has extensive office networks in China, Southeast Asia and India, three of the world’s fastest growing B2B events markets. UBM China has 11 offices in the major cities in mainland China, including Beijing, Shanghai, Guangzhou, Hangzhou, Guzhen and Shenzhen, where we organise more than 70 exhibitions and conferences. In ASEAN, UBM Asia operates from its offices in Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines with over 60 events in this region. UBM India teams in Mumbai, New Delhi, Bangalore and Chennai organise 20 exhibitions and 60 conferences every year across the country.

About UBM Asia in ASEAN (www.ubmasean.com)

In ASEAN, we serve 13 market sectors with wholly-owned subsidiary companies and JV companies in seven offices in the major cities in ASEAN, including Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Kuala Lumpur, Manila and Singapore. We provide over 60 products in various categories: trade fairs, conferences and publications. As the leading B2B event organiser in the region, we are the largest exhibition organiser in Malaysia.

Our products serve tens of thousands of exhibitors, visitors, conference delegates, advertisers, subscribers and corporations in the region and from all over the world with high value face-to-face business-matching events and quality conference programmes presented by top-notch industry leaders. We have over 130 staff in six countries.

This press information is issued by;

Marketing Communication Department

United Business Media (M) Sdn Bhd
A-8-1, Level 8, Hampshire Place Office
157, Hamphire 1, Jalan Mayang Sari
50450 Kuala Lumpur, Malaysia
Tel: +603-2176-8788 Fax: +603-2164-8786
E: [email protected] W: www.ubmasia.com

For more information on Livestock Asia 2015 Expo & Forum, contact;

Ms. Rita Lau / Ms. Salmiza Salim
E: [email protected] / [email protected] / [email protected]

Photo – http://photos.prnasia.com/prnh/20140822/8521404719
Logo – http://www.prnasia.com/sa/2010/04/19/20100419602891.jpg

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Constellation Brands Beer Division Voluntarily Recalls Select Packages of 12 oz Corona Extra

CHICAGO, Aug. 24, 2014 /PRNewswire/ — Constellation Brands Beer Division today announced a voluntary recall of select packages in Guam containing 12-ounce clear glass bottles of its Corona Extra beer that may contain small particles of glass. The voluntary recall covers 12-ounce clear bottles in select six-pack, 12-pack and 18-pack packages containing bottles with the production codes listed below.

Photo – http://photos.prnewswire.com/prnh/20140823/139054
Photo – http://photos.prnewswire.com/prnh/20140823/139053

This recall comes after routine inspections in the company’s quality control laboratory detected defects in certain bottles that could cause small particles of glass to break off and fall into the bottle. The affected bottles came from one of four glass plants run by a third party manufacturer, which supplies the company the bottles. While the company believes that less than 1 percent of the bottles produced from the plant may be affected, it is recalling select packages that may contain defective bottles to ensure the safety of consumers.

Affected Production Codes:
The following production codes for select Corona Extra 12-ounce bottle packages are included in the recall:

  • Any code that starts with “G” and also ends with “9” on six- and 12-packs
  • Any code that starts with “F29” and also ends with “9” on 18-packs only
  • Any code that starts with “F30” and also ends with “9” on 18-packs only

To date the company has received no reports of injuries resulting from the affected bottles.

The following products are not being recalled:

Corona Extra cans
Corona Extra 24-pack loose bottles
Corona Extra 24 oz. bottle
Corona Extra draft beer
Corona Light bottles
Corona Light cans
Corona Light draft beer
Corona Familiar
Coronitas

“We are troubled by this development and are working proactively with our distributors, retailers and consumers to resolve this situation as quickly as possible,” said Bill Hackett, President of Constellation Brands Beer Division. “Throughout its history, Corona Extra is a brand that has been synonymous with quality, consistency and refreshment. Our entire organization, including our brewers, our production team, and all our employees across our system, is absolutely committed to doing everything possible to complete this recall quickly, and ensure the safety of our consumers and integrity of our product.”

Upon discovering the issue, Constellation took prompt action to identify and secure potentially affected product and will work closely with distributors and retailers to minimize the impact on consumers. The company is diligently working to recover potentially affected product that is in retail stores and may have reached consumers.

Consumers who have bottles marked with the listed production codes can visit http://www.coronausa.com/recall for more information, and email [email protected] for instructions on reimbursement.

About Constellation Brands Beer Division
Constellation Brands Beer Division is the #3 beer company in the U.S. and the exclusive brewer, marketer and supplier of a growing portfolio of high-end, iconic, imported beer brands for the U.S. market. The portfolio includes Corona Extra (the #1 imported beer in the U.S. and #5 beer overall), Corona Light, Modelo Especial, Negra Modelo, Pacifico and Victoria beer brands. The Beer Division also imports the Tsingtao beer brand in the U.S. For more information, visit www.cbrands.com.

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Maybank PE Leads Series D Financing For YPX Cayman Holdings

Looking to capitalize on the strong growth opportunities in China’s food & beverage industry, Maybank PE, the private equity arm of Maybank, made its maiden investment in China by investing in YPX

SHANGHAI, Aug. 22, 2014 /PRNewswire/ — YPX Cayman Holdings Co. (“the Company” or “YPX”), a leading quick service restaurant company headquartered in Shanghai, announced today the closing of its series D financing round of USD 25M. MAM PE Asia Fund I (Labuan) LLP, a fund managed by Maybank Private Equity Sdn Bhd (“Maybank PE”), is the lead investor in the latest financing round, with follow-on investments from existing investors such as LionRock Capital, Ignition Capital, as well as renowned individual investors such as Mr. Koh Boon Hwee, former DBS Bank and Singapore Airlines Chairman, and Mr. Peter Tan, former President of McDonalds Greater China and ex-CEO of Burger King for Asia Pacific. Series D financing proceeds will be utilized to grow YPX directly-owned stores and to expand YPX’s franchising system.

Cloud 9 Store

Cloud 9 Store

 

Three-cup Chicken

Three-cup Chicken

“We are truly excited to have an investment from a fund seeded by Malayan Banking Berhad, or better known as Maybank. Maybank is one of South East Asia’s largest banks, and the largest in Malaysia by market capitalisation. Named one of the Top 20 strongest banks in the world consecutively in 2013 & 2014 (by Bloomberg Markets Magazine July / August 2014), Maybank through its private equity arm has a very rigorous due diligence process, and we are honored to have passed their stringent test on our business and management. It is a very significant event for me and the Company to have the fund investing in us. Maybank PE brings a wealth of experience to help us grow our business,” says Chris Tay, CEO and founder of YPX Cayman Holdings.

Mr. Pneh Tee Keong, CEO of Maybank PE, says, “We are very pleased with this outcome. The upside for this segment in China is enormous, given the increasing middle class population. We are also comforted by the fact that we are investing in a sound business, and backing an experienced management team to help us navigate through the intricacies of operating in this market. We are very excited to be a part of what I believe will be a successful partnership with Chris, his team and all the other shareholders.”

With this fresh funding, YPX will be able to grow more stores via direct-owned operations as well as franchisees across China. The company will also allocate some proceeds for R&D to diversify its menu offering, brand awareness and information technology to support its future growth. “Serving good quality, value for money food has been the hallmark of YPX since its inception. This year, we have continued to focus on improving our food quality and safety standards; we see this as an ongoing pursuit that will continue to underpin all that we do at YPX. 2014 is also our inaugural year for franchising, and we are very committed to being a responsible franchisor. We will set up a robust system to support and train our franchisees as they are in all ways business people and want a good return on their investments,” says Tay.

“In the past, franchising had an undesirable reputation in China, due to a laggard monitoring system and a mismatch of values between franchisors and franchisees. The industry was further tarnished by unethical practices by franchisors who emphasized short-term gains over creating a sustainable brand name. However things are changing, albeit slowly, and the market is maturing for the better; franchisees are more informed and educated than before. We want to be the first one to stand out as the most sought after and most responsible franchisor in China. Needless to say, this will not slow down our own corporate-owned stores. Not only will this positively add to our revenue growth, it will also provide support to our franchised stores. In addition to this, we are true believers in the use of information technology in the F&B industry, when often times IT takes a back seat in our kind of business. So we will invest heavily on IT in the coming years. The hottest potential is that China is still urbanizing rapidly and its consumer market is going to be the largest in the world in the next few years, if it isn’t already,” adds Tay.

YPX’s first brand is Cloud9, a Taiwanese Fast Casual Restaurant chain, which currently has more than 40 stores in 12 cities. Founded in late 2010, Cloud9 was seed-funded by Qiming Venture Partners, well known for its highly successful investment in Xiaomi. Over the next year, YPX hopes to add two more brands, be it from the USA or another country that has good brand equity amongst Chinese consumers. Tay says, “We will not add another brand for the sake of adding a brand. It has to have the same core values as the first brand: serving a majority of the Chinese customers with the best food at the most affordable pricing. We have strict principles that we adhere to when developing and nurturing a brand. We do not want to segregate any spectrum of the customers. We want brands that can understand the Chinese consumers’ needs and always staying relevant. And it has to be scalable at the same time. We have a solid management team and our reputation of being professional, reliable and accountable attracts many brands from overseas to want to work with us to expand in China.”

On the topic of food safety, Tay adds, “food safety is of paramount concern in China. YPX will not compromise on food safety for the sake of growth as these two important objectives are not contradicting. We can do both. A high moral standard and superior transparent management culture are held in very high esteem in YPX.”

Mr. Daniel Tseung, MD of LionRock Capital, says, “We are delighted to have a Maybank associated fund as the lead investor in the latest Series D round and look forward to working with Maybank PE, other YPX shareholders, and the company management team in strengthening YPX leading position in the Quick Service Restaurant industry in China.”

Mr. Rich Tong of Ignition Partners says, “This latest investment shows that YPX is one of the best teams in the highly competitive food and beverage market. We congratulate them on this great milestone.”

About YPX www.ypxfood.com

Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual F&B chains in China. CLOUD 9, the Company’s first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 40 stores across China including Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, and Hefei. The Company’s management team has a combined F&B chain management experience of over 80 years, having worked in brands like KFC, McDonald’s, Burger King, Dicos, Dairy Queen and Yoshinoya. The Company aims to be a leading casual F&B platform in China.

About Maybank PE www.maybank-am.com

Maybank PE is a wholly owned subsidiary of Maybank Asset Management Group Berhad (“MAMG”), which in turn is a wholly owned subsidiary of Malaysian Banking Berhad (Maybank). Maybank PE targets minority investments in the consumer and consumer related segments across the Asian region.

Its parent, MAMG, is Maybank’s asset management business unit and offers investors a diverse range of investment solutions. MAMG has in-depth experience in managing investments ranging from equity, fixed income to money market instruments mainly on behalf of and for corporations, institutions, insurance and takaful companies and individual clients. In addition to that, MAMG also offers unit trust and wholesale funds. It has regional footprint and on-the-ground presence in key markets of the region – Malaysia, Singapore, Thailand and Indonesia.

About LionRock Capital http://www.lionrockcapitalhk.com

LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. It is supported by some of the world’s most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock’s investee companies and investment partners. LionRock seeks to build active, value-added, long-term relationships with company management teams and investors; its Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. The firm’s team of seasoned Asian professionals has a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond.

About Ignition Capital http://www.igncap.com

Ignition Capital is the growth equity arm of a $3 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 14 years, they’ve been working with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. They have seen their companies deal with difficult economic situations while still growing dramatically to either become public companies, or be sold to larger market leaders.

Photo: http://photos.prnasia.com/prnh/20140822/0861406013-a
Photo: http://photos.prnasia.com/prnh/20140822/0861406013-b

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