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

H.I.G. Capital's Strategic Acquisition of go asia

In a significant move within the retail sector, H.I.G. Capital, a prominent global private equity firm, has signed a definitive agreement to acquire a majority stake in go asia, Germany's largest retailer of Asian groceries. This acquisition, whose financial details remain undisclosed, is subject to customary regulatory approvals.

Founded in 2008 and headquartered in Berlin, go asia operates over 70 stores across more than 30 cities in Germany. The retailer boasts a wide selection of over 10,000 products from various Asian countries, meeting the growing customer demand for authentic Asian cuisine. With a workforce exceeding 1,600 employees, the company has made significant strides in establishing itself as a favorite among consumers seeking quality Asian groceries.

The founding family, led by Wengui Ye, has partnered with H.I.G. to propel the next phase of growth for go asia. H.I.G. intends to leverage its retail expertise, extensive international network, and financial resources to facilitate the dynamic expansion of go asia's store network not only throughout Germany but also into broader European markets. The Ye family will continue investing significantly in the enterprise, retaining a major ownership stake, while Wengui Ye and the management team remain committed to shaping go asia's future.

Wengui Ye expressed his enthusiasm regarding the partnership, highlighting a vision he had when opening the first go asia store in Berlin back in 2009: to bring authentic Asian cuisine into German homes. Celebrating go asia's status as the largest Asian grocery retailer in Germany, Ye sees vast untapped growth potential, particularly in Europe. He is confident that H.I.G. is the perfect partner for navigating this new chapter of expansion, thanks to its vast experience, robust network, and collaborative approach.

Christian Kraul-von Renner, managing director at H.I.G., praised go asia’s impressive journey under Wengui Ye’s leadership. He acknowledged the remarkable growth driven by a unique product range and a scalable store concept, which has propelled go asia's dominance in the market. Kraul-von Renner emphasized the substantial opportunities for further expansion both within Germany and across other European territories, reinforcing H.I.G.’s commitment to accelerate go asia's growth.

The history of go asia dates back to its inception in Berlin, where the first store opened in Charlottenburg. With its strategic locations commonly situated in city centers and shopping malls, complemented by an online shop, go asia effectively caters to a diverse customer base. The company's inventory includes essential typical products such as rice, noodles, sauces, spices, as well as frozen and fresh goods, beverages, and kitchen utensils.

About H.I.G. Capital

H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $76 billion of capital under management. Established in 1993, H.I.G. specializes in providing debt and equity capital to middle-market companies across various sectors with a focus on operational improvements and value creation. The firm’s portfolio consists of more than 100 companies generating over $53 billion in total revenue.

The acquisition of go asia marks an exciting development not only for H.I.G. and go asia but also sets a new standard for the Asian grocery sector in Europe as they work together to harness new growth opportunities.