PAG Asia Capital (PAG) will make an investment in Paradise Group Holdings Pte. Ltd. (Paradise Group), one of the leading restaurant groups in Southeast Asia, the two companies announced today. The current shareholders of Paradise Group, Eldwin Chua and Edlan Chua, will remain significant shareholders in the company and will remain in their current positions.
Established in 2008, Paradise Group operates over 60 outlets in Singapore, China, Hong Kong, Malaysia, Indonesia, Japan, Dubai, Philippines, Myanmar, Taiwan, and the UK. Under the leadership of founder and CEO Eldwin Chua, Paradise Group has grown rapidly from two locations less than 10 years ago into one of the largest and most well-known Chinese restaurant groups in the region, offering various dining concepts to cater to different pricing points and cuisine styles.
Eldwin Chua, founder and CEO of Paradise Group, commented, “We are delighted by the prospect of partnering with PAG and look forward to great success with their backing. PAG’s presence and relationships across Asia are highly complementary to our growth plans.”
“We look forward to working with Eldwin and Edlan Chua,” said Weijian Shan, Group Chairman and CEO of PAG. “The management team of Paradise Group have built an impressive franchise with great potential for future growth, particularly in China. We believe that our investment and operational expertise, combined with Paradise Group’s brand and capabilities, will help the company further expand its footprint throughout Asia.”
Paradise Group operates more than 60 restaurants with operations in Singapore, China, Hong Kong, Malaysia, Indonesia, Japan, Dubai, Philippines, Myanmar, Taiwan, and the UK. Its brands include Paradise Dynasty, Paradise Inn, Taste Paradise, Paradise Teochew, Seafood Paradise, Canton Paradise, Beauty in the Pot, Paradise Hotpot, ParaThai, LeNu, LeTen, Hao Chii and One Paradise.
PAG Asia Capital is the private equity arm of PAG, one of Asia’s largest alternative asset management firms, with funds under management across private equity, real estate and absolute return strategies. PAG currently has US$16 billion in capital under management, with 380 staff across its offices in Asia.