Communiqué de presse

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 (English version)

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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.

« We are extremely excited to begin this new journey of SMCP Group alongside its founders and management who we hold in deep respect for the passion and vision they have for their brands as well as for their impressive achievements.  »

Yafu Qiu,
Chairman of Shandong Ruyi Group

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