H.I.G. to acquire majority stake in go asia

H.I.G. Capital said an affiliate has signed a definitive agreement to acquire a majority stake in go asia, subject to customary regulatory approvals. Financial terms were not disclosed.

go asia was founded by Wengui Ye in Berlin in 2008 and opened its first store in 2009. It operates over 70 stores in more than 30 cities in Germany, offers over 10,000 Asian products and employs more than 1,600 people. The founding family will reinvest and keep a significant ownership interest.

H.I.G. said it will contribute retail and consumer expertise, its international network and capital to support store expansion in Germany and Europe. Christian Kraul-von Renner, Managing Director at H.I.G., said the firm sees potential to enter other European markets.