Davis Polk is advising an affiliate of Unitas Capital on the sale of Guangdong Jiahao Foods to Huabao International Holdings for approximately $694 million, subject to adjustments. The transaction is subject to customary closing conditions.

Guangdong Jiahao Foods, a leader in the Chinese condiment market, produces and sells a range of food products including wasabi, chicken bouillon and soy products. Unitas Capital is among Asia’s most experienced private equity firms, with a focus on buyouts and growth equity investments into medium-to-large-size, market-leading companies in the branded consumer, retail and industrial sectors. Huabao International Holdings is a Hong Kong listed company principally engaged in the development and sale of flavors, fragrances, tobacco raw materials, aroma raw materials and innovative tobacco products in China.

The Davis Polk corporate team includes partner Miranda So, counsel Sam Kelso, counsel-registered foreign lawyer Brian Snyder and registered foreign lawyer Zhiyao Li. Partner Paul Chow and counsel Stephenie Fung are providing Hong Kong law advice. All members of the Davis Polk team are based in the Hong Kong office.