Xiabu Xiabu
Chinese hot pot restaurant chain
From Wikipedia, the free encyclopedia
Xiabu Xiabu Catering Management Co., Ltd.[1] or Xiabu Xiabu (Chinese: 呷哺呷哺; pinyin: Xiābǔ Xiābǔ) is a fast food hot pot restaurant chain in China.[2] Its headquarters is in Daxing District, Beijing.[3]
| Xiabu Xiabu Catering Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 呷哺呷哺餐饮管理有限公司 | ||||||
| Traditional Chinese | 呷哺呷哺餐飲管理有限公司 | ||||||
| |||||||
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History
The company was established in 1998.[1]
As of 2008, the company used centralized kitchens, and a hot pot meal at Xiabu Xiabu cost 27 renminbi (approximately $4 U.S. dollars).[4] By November 2008, Xiabu Xiabu operated 53 locations in Beijing, with plans to expand to 60 locations by the end of the year.[4] That same year, Actis Capital paid $51 million U.S. dollars to acquire a majority stake of Xiabu Xiabu,[5] stating an aim to triple the number of stores within a three-year period.[6]
As of 2012, there were over 300 Xiabu Xiabu restaurants across Beijing, Shanghai, Tianjin, and the provinces of Hebei, Jiangsu, and Liaoning.[7] Also in 2012, Actis sold the company to global growth equity firm General Atlantic,[5] intending to secure $150 million from the sale.[8]
In September 2018, the chain lost £145 million in market value after a customer found a dead rat in her soup at an outlet in Weifang.[9]
By 2021, there were 1,077 restaurants under the Xiabu Xiabu brand and its sister brand, Coucou.[10]
