Zhejiang Liangan Food Co., Ltd. (hereinafter referred to as Liangan Caf¨¦) reportedly received US$30 million from Goldman Sachs (GS) and Taiwan-based private equity firm Whitesun Equity Partners. Liangan Caf¨¦ will use the funds to extend the number of its outlets to roughly 1000 in a couple of years.

Liangan Caf¨¦ plans to invite GS and Whitesun to join its board after this round financing. Meanwhile, Liangan Caf¨¦ expects to open 1000 outlets as soon as possible and to take itself public in Shanghai Stock Exchange by the first quarter of 2010.

During the expansion process, Liangan Caf¨¦ will ally itself with New Century Hotel to jointly forge a market serving both five-star hotel business and high-profile western style restaurant and teppan-yaki grillroom business.

In addition, Liangan Caf¨¦ business will be divided in four districts, namely, East China, Central China, North China and West China, with Hangzhou, Wuhan, Tianjin and Chongqing as the respective center base. Liangan Caf¨¦ will synchronize to set up central kitchens, logistics and distribution centers, training schools and coffee factories in each district, with a view to resolving such issues as quality assurance, product distribution, personnel training and taste similarity, and so on.