Shandong Ruyi Technology Group, the founders and management of SMCP Group and KKR announce the successful closing of the acquisition of a majority stake in SMCP Group by Shandong Ruyi Technology Group

Founders and management are reinvesting alongside Shandong Ruyi Technology Group and KKR will retain a minority stake.

Pursuant to the completion of customary regulatory approvals, Shandong Ruyi Technology Group (“Shandong Ruyi Group”) the founders and the management team of SMCP Group (“SMCP”) and KKR, a leading global investment firm, together today announce the successful completion of the acquisition of a controlling stake in SMCP by Shandong Ruyi Group. SMCP’s founders and management are reinvesting in SMCP alongside Shandong Ruyi Group as minority shareholders; KKR is also retaining a minority interest in the group. The closing is announced in a context of continuous strong growth for SMCP, who has recently published +19.2% growth for first half 2016, driven by all brands and regions.