BDA Advises on the Sale of Sichuan Zhiqiang Food to Lunar Capital (PDF) by


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									BDA Advises on the Sale of Sichuan Zhiqiang Food to Lunar Capital

New York, NY, March 27, 2012 --( Lunar Capital (“Lunar”), a China-focused private equity
group, has acquired 60% of Sichuan Zhiqiang Food Co Ltd (“Zhiqiang” or “Joysun”), a leading instant
walnut beverage manufacturer in China. The original management team of Zhiqiang will continue to hold
the remaining 40% stake in the company. Business Development Asia LLC (“BDA”) acted as the
exclusive financial advisor to Zhiqiang on its sale process and strategy.

“As a local Chinese brand, Zhiqiang has a long history and quality products that are recognized by
Chinese consumers,” said Derek Sulger, Founding Partner at Lunar Capital, “Lunar's investment will
continue to enhance the brand's competitive advantage and Zhiqiang's further expansion in the Chinese

“Zhiqiang is truly a Chinese brand, utilizing high quality walnut resources from Southwestern China. We
anticipate the new partnership with Lunar will leverage the solid foundation over the past 20 years, and
develop Zhiqiang into a long term competitive brand with sustainable growth. Lunar's rich network and
resources both in the domestic and the international market will bring additional insights and market
opportunities to our company,” said Chen JiaZhu, Chairman of Zhiqiang.

“We are confident that the partnership between Lunar Capital and Zhiqiang will be a success, and are
proud to have been able to play a role advising on the transaction. This is a good example of BDA being
able to assist a well-recognized, though underinvested, local brand in China to attract smart, new
shareholders to support its growth ambitions,” said Paul DiGiacomo, Managing Director of BDA Hong

Founded in 1995, Zhiqiang is one of the pioneers in producing instant walnut-based beverages in China,
with the majority of raw walnuts sourced from Southwestern China. Its Zhiqiang or Joysun brand of
walnut beverage is well recognized in China, and was granted the official Health Food qualification by
the Chinese government. It is so far the only product in the walnut beverage industry to obtain this

Lunar Capital is a private equity fund with offices in Shanghai, Chengdu, and Hong Kong. It focuses on
China investments, especially opportunities in mid-western China. Lunar's key investment sectors include
food & beverage, consumer retail, and natural resources.

BDA Deal Team
Paul DiGiacomo, Managing Director, Hong Kong
Shan Yue, Director, Shanghai
Tanya Wang, Senior Associate, Shanghai
Jess Zhou, Associate, Hong Kong

About Business Development Asia
Business Development Asia LLC (“BDA”) assists multinational corporate and financial sector clients to

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identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and
internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai,
Hong Kong, Beijing, Shanghai, Seoul, and Tokyo. BDA employs more than 60 full-time professional
staff across its nine offices, supplemented by a team of senior advisors around the world. BDA's clients
include Areva, AXA Private Equity, Celestica, Clariant, Dai Nippon Ink and Chemicals, Ecolab,
Hercules, Henkel, Kennametal, Molex, Nalco, Nova Capital Partners, Pfizer, Rexel, Reuters, Ryder,
Materion, Sun Chemical, and the Weir Group. Further information on BDA is available at

For more information regarding this transaction, please contact Paul DiGiacomo in Hong Kong on (852)
2537 9565 or Shan Yue in Shanghai on (86) 21 5407 5580.

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Contact Information:
Euan Rellie
Contact via Email

Online Version of Press Release:
You can read the online version of this press release at:

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