Shanghai, Dec. 20 - U.S. private equity firm Carlyle Group said on Thursday it was investing $21 million in DIO F&B Group, a major restaurant chain in China.
The investment will support expansion of the DIO Coffee brand, which serves coffee and Western food, to 1,000 stores across China within five years from over 300 at present, Carlyle said in a statement.
DIO Coffee opened its first store in Shanghai in 2001, and the DIO group also manages businesses including food processing, logistics and making furniture under its own brand.