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China Peak gets US$60 mln from PE firms

Published: 24 Apr 2009 01:20:39 PST

Apr. 24, 2009 (China Knowledge) - China Peak, the country's leading basketball equipment manufacturer, has received investment funds of US$60 million from Sequoia Capital China, CCB International, and Legend Capital, sources reported.

The investment testifies to the strength of the company's international strategy and sales concept, said Xu Zhihua, the general manager of China Peak, adding that the company would expand investment in product design, talent, and brand promotion.

It is the third round of investment the company has attracted. China Peak gained investment from Sequoia Capital China and PreIPO partners in 2007 and from CCB International and Shenzhen Capital Group Co Ltd in 2008.

The company aims to realize turnover of RMB 3 billion in 2009 and plans to add 1,000 outlets to the current 5,100 outlets.

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