The private equity arm of Standard Chartered Bank announced that it has invested US$35 million but did not disclose how much of a stake it has acquired.
This is the private equity firm’s first investment in Vietnam and the latest acquisition in a large portfolio in the Southeast Asian region.
Golden Gate owns and operates 11 proprietary restaurant brands across more than 60 restaurants located in and around Hanoi and Ho Chi Minh City, including Ashima, Kichi Kichi, SumoBBQ, Vuvuzela and iSushi.
An SCPE representative said it expects to provide strategic input into developing the business strategy of Golden Gate and support the company’s future expansion plans.