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The story
The company was established in 1998.
As of 2008, the company used centralized kitchens, and a hot pot meal at Xiabu Xiabu cost 27 renminbi (approximately $4 U.S. dollars). By November 2008, Xiabu Xiabu operated 53 locations in Beijing, with plans to expand to 60 locations by the end of the year. That same year, Actis Capital paid $51 million U.S. dollars to acquire a majority stake of Xiabu Xiabu, stating an aim to triple the number of stores within a three-year period.
As of 2012, there were over 300 Xiabu Xiabu restaurants across Beijing, Shanghai, Tianjin, and the provinces of Hebei, Jiangsu, and Liaoning. Also in 2012, Actis sold the company to global growth equity firm General Atlantic, intending to secure $150 million from the sale.
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.
By 2021, there were 1,077 restaurants under the Xiabu Xiabu brand and its sister brand, Coucou.
From Wikipedia’s article on Xiabu Xiabu, shared under CC BY-SA 4.0.3