New Stock News | Liangshi Very Busy merges with Zhao Yiming Snack's Strategy or considers listing in Hong Kong.

On November 10, according to market news, the budget snack chain brand "Busy Snacks" has completed a merger with "Zhao Yiming Snacks," and the founder of "Busy Snacks," Yan Zhou, will assume the role of chairman of the new group. It is reported that this merger was initiated by "Busy Snacks" and jointly promoted by the management of both parties. After the merger, both brands will continue to operate independently. In July of this year, there were reports that "Busy Snacks" was considering listing on the A-share market in Mainland China or Hong Kong, with a possible fundraising of $100-200 million. If they choose to list in Hong Kong, the IPO could take place as early as next year. However, the official response from "Busy Snacks" stated that there are currently no specific plans or locations for an IPO. Public information shows that "Busy Snacks" was established in Changsha, Hunan and is a young snack chain company that focuses on offline operations. In just over six years, it has grown into one of the leading brands in the national snack chain industry. In April 2021, the company completed a Series A funding of 240 million RMB, led by Sequoia China and Gao Rong Capital. "Zhao Yiming Snacks" was founded in Yichun, Jiangxi in 2019 and currently has over 2,500 stores. Its investors include Black Ant Capital and Bestore Co., Ltd.