Dairy Queen and Papa John’s Pizza China owner in play

A majority stake in the operator of the Dairy Queen and Papa John’s Pizza chains in China is likely to go on the market.

Citing sources with knowledge of the matter, Bloomberg has reported that EQT, the Swedish private-equity owner of 57 per cent of China F&B Group is considering selling its stake.

China F&B operates about 600 Dairy Queen stores across the country, and Papa John’s Pizza has around 250 outlets, but it is not clear how many of those are owned by China F&B.

While no sales process has commenced at this stage, EQT has consulted with investment banks

Bloomberg estimates the value of China F&B Group at between $100 million and $200 million.