Banu Maodu Hot Pot denies rumors of Tomato Capital exiting, and Tomato Capital claims that it has “no exit plan in the short term.”

By orchioo Apr17,2023

Recently, rumors of shareholder adjustments in Banu Maodu Hot Pot Co., Ltd. (hereinafter referred to as “Banu”) have attracted attention. It is reported that in Banu’s capital process, several private equity funds under Tomato Capital, which play an important role, are withdrawing from Banu’s business information. As a result, Banu’s registered capital and total investment have also decreased by millions of yuan and more than 10 million yuan, respectively.
According to the Tianyancha App, the shareholder information of Banu has been changed from the original 7 to the current 5. From the perspective of the current equity situation that can be penetrated, there is indeed no intuitive view of tomato capital related companies.
The first financing obtained by Banu Maodu Hot Pot, established in 2001, was nearly 100 million yuan of equity financing from Tomato Capital in March 2020. Regarding the cooperation between the two sides, the industry believes that it may be a signal that Banu is accelerating the listing process. Subsequently, private equity funds under Tomato Capital, such as Ningbo Tomato No.2 Equity Investment Partnership (limited partnership) and Nanjing Tomato No.5 Equity Investment Partnership, successively purchased shares in Banu, which filled the market with expectations for Banu to sprint into the capital market.
At the same time, Banu gradually moved its headquarters to Beijing in late March 2022. Senior executives, including founder Du Zhongbing, have now moved to Beijing to work, and actions such as accelerating the opening of stores in 2022 are considered as Banu’s paving the way to the capital market.
In the stage of rapid development of Banu, will tomato capital withdraw from Banu? The reporter from Securities Daily sought confirmation with Banu on this matter, and the relevant person in charge responded that it was a normal registration management adjustment and equity change, and there was no change in the total amount of tomato’s investment in Banu.
At the same time, Tomato Capital also told the Securities Daily that it was a normal registration management adjustment. The founder of Tomato Capital, Qing Yong, said, “Tomato Capital continues to be bullish on Banu and has no exit plan in the short term.”
According to public information, Tomato Capital is the first specialized investment institution in China that focuses on catering brands and the catering supply chain. Currently, Tomato Capital has entered into strategic partnerships and fund supply with multiple listed catering enterprises and catering groups, and has formed long-term strategic partnerships with dozens of domestic investment institutions with strategic investment in catering. Invested enterprises include Banu Maodu Hot Pot, Chef Fei’s Fried Pork with Chili Pepper, COMMUNE Restaurant Bar, Jixiang Wonton, Mo Mo Dim sum Bureau, Weiyuan Hongfang, Saishang Dairy, Mitega Vegetable Meat and other enterprises.

By orchioo

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