Wangjiahuan Valuation, Funding & Investors

Wangjiahuan is valued at $928M as of February 2021.

Last Wangjiahuan valuation

$928M

Series B · Feb 2021

Last Wangjiahuan funding round

$124M

Series B · Feb 2021

Cumulative funding Wangjiahuan raised

$268M

across 3 funding rounds

Key investors in Wangjiahuan

  • GLP
  • Meituan
  • CPE
  • Hidden Hill Capital
  • Paul Run Holding
  • Ziming Capital

Wangjiahuan Overview

About Wangjiahuan

Wangjiahuan is a catering services company focused on group meals for schools, hospitals, and large enterprises in China. From www.wangjiahuan.net, it delivers customized nutrition plans, including student lunches and factory worker meals, with operations centered in industrial hubs like Guangdong Province.


Founded

1995

HQ

ChinaShenzhen

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Services

Valuation

$928M (Feb 2021)

Wangjiahuan Valuation

Wangjiahuan is currently valued at $928M, based on its Series B in February 2021.

The $124M round was led by CPE, with participation from Paul Run Holding and Ziming Capital.

Wangjiahuan valuation by funding round

Wangjiahuan valuation by funding round
DateStageValuation
Feb 2021Series B$928M

Wangjiahuan Funding History

Wangjiahuan has raised a total of $268M across 3 funding rounds.

Wangjiahuan's first fundraising round was a $58M Series A in August 2018. The most recent completed round was a $124M Series B in February 2021.

Wangjiahuan funding rounds

Wangjiahuan funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2021Series BCPE (lead); Paul Run Holding; Ziming Capital$124M$928MWangjiahuan is a Chinese agtech company focused on agricultural products. In February 2021, it raised CNY 800 million (approximately USD 123.7 million) in a Series B+ round led by CITIC Private Equity Funds Management (CPE), with participation from Paul Run Holding and Ziming Capital. The post-money valuation for the round was reported in a range of CNY 6.4 billion to CNY 8 billion. The company has raised a total of approximately $268.43 million across three strategic funding rounds, with this being one of them.
Mar 2020Series BMeituan (lead); GLP; Hidden Hill Capital$86M-Wangjiahuan, founded in 1995 and based in Shenzhen/Guangdong, is a major Chinese distributor of agricultural products including fresh fruits, vegetables, meat, eggs, oil, and grains, serving over 20,000 corporate and institutional clients such as schools, hospitals, restaurants, and supermarkets through more than 130 branches across ten provinces. It provides processing, distribution, and catering services, positioning itself as a competitor to Meicai and aspiring to become China's Sysco with expansions into farming, delivery, ingredient processing, restaurant management, e-commerce, and central kitchen operations. The company employs 8,000 full-time staff and handles nearly 10 million tons of products daily, leveraging a vast marketing network and logistics ecology. In early March 2020, Wangjiahuan raised RMB 600 million (approximately USD 85-86.6 million) in a Series B round led by Meituan, with participation from existing investor Hidden Hill Capital (backed by GLP) and mentions of Yinshan Capital in some reports. This brought total funding to CNY 1 billion. Proceeds are earmarked for nationwide business expansion, establishing urban distribution centers, county-level rural procurement platforms, improving product quality, and promoting a nationwide partnership plan. Meituan, a leading on-demand delivery platform, views Wangjiahuan as a strategic fit due to its first-mover advantages in bidding, supply chain, and funding within the group meal delivery and food supply chain sectors, which offer scale, growth, and profitability potential. The investment aligns with Meituan's ecosystem including food delivery, groceries, and merchant services, enabling synergies in the farm-to-business (F2B) e-commerce space amid rising fresh goods delivery demand. Wangjiahuan has adopted tech-driven features like group buying to compete with younger platforms like Meicai (valued at ~$7B) and Songxiaocai, focusing on sales to hotels, restaurants, hospitals, schools, and factories. The domestic catering industry context shows CNY 4.67 trillion total revenue in 2019, with institutional catering at CNY 1.2 trillion, highlighting the market scale Wangjiahuan targets.
Aug 2018Series AGLP (lead)$58M-Wangjiahuan, founded in 1995, is a Chinese food distributor and agriculture startup that raised $58 million in a Series A funding round led by Singapore-based logistics provider GLP through its Hidden Hill Modern Logistics Private Equity Fund. The capital supports building a blockchain platform for food quality assurance, a cloud-based data platform for operations, and warehouse centers across China. The company operates six business pillars: base management, warehousing, logistics and distribution, central kitchen, group meal service, and e-commerce, managing over 200,000 acres of plantations and purchasing more than 500,000 tons of fruit and vegetables annually. It recently secured general distribution rights for over 200 food brands in China. GLP's chief investment officer Dong Fanghao noted the investment integrates resources from their food and logistics portfolio to upgrade the food service industry. This GLP-led round in approximately February 2018 matches the query details, distinct from a later 2018 round led by Meituan Dianping raising 600 million RMB ($85 million). No financial metrics such as post-money valuation, revenue, ARR, EBITDA, or valuation multiples are disclosed in reports on the GLP investment. Wangjiahuan has since pivoted toward a tech-driven B2B agricultural produce platform, competing with players like Meicai and Songxiaocai, focusing on farm-to-business sales to hotels, restaurants, hospitals, schools, and factories.

Who has invested in Wangjiahuan?

6 investors have backed Wangjiahuan across its funding rounds, including GLP, Meituan, CPE, Hidden Hill Capital, Paul Run Holding and Ziming Capital.

Lead investors include CPE, Meituan and GLP.


Wangjiahuan Investors

Investors in Wangjiahuan by funding rounds participated
InvestorHQRoundsRoleFirst check
GLPSingaporeSingapore2LeadAug 2018
CPEChinaBeijing1LeadFeb 2021
MeituanChinaBeijing1LeadMar 2020
Paul Run HoldingChinaShenzhen1ParticipantFeb 2021

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Wangjiahuan Competitors

Wangjiahuan competitors include listed companies like Westlife Foodworld, Cracker Barrel, Kura Sushi and Ohsho Food Service, and private ones like Panda Selected and Black Giant.

Public and private companies comparable to Wangjiahuan
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Panda SelectedChinaBeijingPrivate--$300M-
Black GiantChileAntofagastaPrivate$1.3B-$900M0.7x
Westlife FoodworldIndiaIndiaPublicly listed$271M$42M$886M3.6x
Cracker BarrelUnited StatesUnited StatesPublicly listed$3.5B$193M$978M0.6x
Kura SushiJapanJapanPublicly listed$1.6B$95M$871M0.7x
Ohsho Food ServiceJapanJapanPublicly listed$751M$89M$993M1.2x

Wangjiahuan Public Comps

Wangjiahuan is still privately-owned, but its public comps include Westlife Foodworld, Cracker Barrel, Kura Sushi, Ohsho Food Service, Wetherspoons, BrightView, Matrix Design Co., Sweetgreen, Domino's Pizza Group and Guangzhou Restaurant Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Westlife Foodworld$271M$42M3.9x3.6x25.4x27.4x
Cracker Barrel$3.5B$193M0.6x0.6x10.6x15.9x
Kura Sushi$1.6B$95M0.7x0.7x12.1x11.8x
Ohsho Food Service$751M$89M1.1x1.2x9.7x-
Wetherspoons$2.9B$358M0.9x0.9x7.2x8.0x
BrightView$2.7B$307M0.9x0.9x8.0x7.2x
Matrix Design Co.$110M$12M7.7x7.2x69.8x-
Sweetgreen$679M($68M)1.5x1.5x(15.1x)(45.1x)

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Common questions about Wangjiahuan

When was Wangjiahuan founded?Wangjiahuan was founded in 1995.
Where is Wangjiahuan headquartered?Wangjiahuan is headquartered in Shenzhen, China.
Is Wangjiahuan publicly listed?No, Wangjiahuan is a private, VC-backed company.
What is Wangjiahuan's valuation?Wangjiahuan was last valued at $928M in its Series B in February 2021.
How much funding has Wangjiahuan raised?Wangjiahuan has raised $268M across 3 funding rounds.
What was Wangjiahuan's last funding round?Wangjiahuan's last funding round was a $124M Series B in February 2021, led by CPE.
Who are Wangjiahuan's investors?Wangjiahuan's investors include GLP, CPE, Meituan, Paul Run Holding, Hidden Hill Capital and Ziming Capital.
Which companies are comparable to Wangjiahuan?Companies comparable to Wangjiahuan include Panda Selected, Black Giant, Westlife Foodworld, Cracker Barrel, Kura Sushi and Ohsho Food Service.

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