BDA advises Argan and BiYiDe on growth capital raise

BDA Partners is pleased to announce that its client, Argan Capital, has raised significant new growth capital for its hard discount grocery portfolio company, BiYiDe. The new capital came from a blue-chip mainland Chinese corporate investor.

BDA was the exclusive financial advisor to Argan Capital and BiYiDe on the transaction.

Established in 2017 and headquartered in Shanghai, BiYiDe is China’s first – and only significant – hard discount grocery operator, delivering quality branded and private label products at the lowest prices in the market. Its footprint covers 160+ self-operated neighborhood stores in Shanghai and the neighboring Jiangsu Province, complemented by rapidly-growing digital operations, including online ordering and fulfilment capabilities, to extend its reach to consumers.

BiYiDe intends to deploy the growth capital to accelerate its store expansion strategy and broaden its exposure to other cities in eastern China.

Lloyd Perry, Partner, Argan Capital said: “BiYiDe is a uniquely positioned business that is developing very rapidly. We look forward to further expanding the company’s footprint and market share.”

Jeffrey Wang, Partner, BDA, said: “We are delighted to have advised Argan and BiYiDe on this growth transaction. BiYiDe is a pioneer in the Chinese grocery retail landscape. We look forward to it increasing its market leadership position in the years to come. This result continues BDA’s strong momentum in the Consumer & Retail sector across Asia.”