#Germany #H.I.G. Capital #Berlin #go asia #Asian food

H.I.G. Capital Acquires Majority Stake in go asia

H.I.G. Capital, a prominent player in global private equity with a substantial management portfolio of $76 billion, has signed a definitive agreement to acquire a majority stake in go asia, the foremost retail chain for Asian food in Germany. This strategic move marks a significant milestone for both H.I.G. and go asia as they aim to capitalize on the growing demand for authentic Asian cuisine across the region.

Founded in 2008 and headquartered in Berlin, go asia has expanded rapidly, boasting over 70 stores operating in more than 30 cities throughout Germany. The company provides a diverse selection of over 10,000 Asian product offerings, including everything from rice, noodles, sauces, and spices to frozen goods and kitchenware. Notably, go asia employs over 1,600 individuals, cementing its position as a critical player in the food retail market.

The partnership between H.I.G. Capital and go asia is set to enhance the company’s growth trajectory. H.I.G. plans to leverage its extensive retail and consumer expertise, capital resources, and international network to support go asia’s ambitious expansion plans both in Germany and throughout Europe. This collaboration will undoubtedly empower go asia to address the increasing cravings for Asian cuisine among a broad customer base, further solidifying its market leadership.

Wengui Ye, the founder of go asia, expressed his excitement about the partnership, reflecting on the journey that began with the opening of the first store in Berlin-Charlottenburg in 2009. Ye stated, “When I opened our first store, my vision was to bring authentic Asian cuisine to German homes. Today, I am proud that go asia is Germany's largest Asian food retailer, and we believe there is significant growth potential ahead, not just in Germany but across Europe.” With the backing of H.I.G., go asia envisions an aggressive expansion strategy that harnesses their understanding of local markets and investment acumen.

Christian Kraul-von Renner, Managing Director at H.I.G., praised go asia's remarkable growth story, highlighting the strong leadership exhibited by Ye and his team. He noted that “go asia has successfully established itself as a leading Asian food retailer with a unique product range and scalable retail model. Together, with the Ye family and management team, we aim to accelerate the next phase of go asia's growth.”

The acquisition process is pending customary regulatory approvals, and while financial terms of the deal remain undisclosed, it signifies a robust commitment by both parties to drive synergies and value creation in the evolving European food retail landscape.

As go asia prepares for an exciting future, it is poised to further enhance its offerings by tapping into innovative retail strategies and expanding its reach into new markets. This acquisition not only boosts H.I.G.’s portfolio but also reflects the growing appetite for diverse culinary experiences within the European market. As the company gears up for this promising new chapter, stakeholders and consumers alike will eagerly watch how this partnership unfolds in the coming years.

For more information about go asia, including their extensive range of products, visit goasia.net.

For H.I.G. Capital's history and strategy, visit hig.com.