The investment by the prominent Fort Worth-based firm's growth fund TPG Growth secured TPG with a 'significant' stake in Yunnan Red, one of China's five largest wineries and the largest winery in southwest China, according to a Reuters report.
Since its founding in 1992, TPG has made a name for itself as a successful and rather contrarian investment firm through investments in companies including Lenovo, Continental Airlines, Burger King, J Crew and Petco.
China's wine market is experiencing rapid annual growth of 11-12 percent on the back of the expanding Chinese middle class and its increasing disposable income. TPG's investment in Kunming-based Yunnan Red will be focused on expanding the winery's national sales network and introducing it to foreign wineries and wine brands.© Copyright 2005-2019 GoKunming.com all rights reserved. This material may not be republished, rewritten or redistributed without permission.