September 21, 2022
Weil represented Advent International (Advent) in connection with its acquisition of a 60% interest in Wagas Group, a leading lifestyle F&B group (the Transaction). The Transaction was announced on September 20, 2022.
Founded in 1999, Wagas is one of the largest independent western casual restaurant groups in China operating a portfolio of lifestyle F&B brands. With 250 locations across China, Wagas has a strong foothold in Shanghai and Beijing along with presence in 11 other cities throughout the country.
This Transaction plays to Advent’s strong track record in the consumer and leisure sectors and its commitment to supporting industry-leading and innovative businesses in China, having completed 18 deals across China and Asia since 2014.
The Weil team was led by China Private Equity partner Charles Ching and included counsel Kenny Yu and associates Carol Jia, Yang Mo and Jerry Shen, with support from U.S. partners Noah Beck, Eric Behl-Remijan, Vadim Brusser and Kevin Sullivan, and associates Josh Schonfeld and Ariel Fliman.