Investors still want piece of dining market

L Capital Asia, the private equity business sponsored by Moet Hennessy-Louis Vuitton SA (LVMH), has entered into an agreement to acquire a majority equity stake in Singapore-based Crystal Jade Culinary Holdings.

Crystal Jade, a premier diversified food and beverage group, operates 120 outlets, ranging from fine dining to casual and specialty restaurants to bakeries in the Asia Pacific region. The deal will be the third investment by L Capital Asia 2, the second private equity fund launched by L Capital Asia.

Ravi Thakran, managing partner of L Capital Asia, said Crystal Jade is a solid asset with over two decades of brand heritage and market leadership.