大窑老板套现离场，32亿中国饮料巨头，终被“卖身”美国资本大鳄

Core Viewpoint - The sale of the domestic soda brand "Dai Yao" to the American private equity giant KKR has sparked public outrage and disappointment, as the founder Wang Qingdong previously vowed not to sell to foreign investors [1][3][21] Company Background - Wang Qingdong, the founder of Dai Yao, started his journey by selling soda from a tricycle, targeting a significant market gap for non-alcoholic beverages during dining occasions [5][7] - Dai Yao quickly gained popularity with its unique positioning as a beer alternative, achieving annual sales of 3.2 billion yuan and becoming the third-largest player in China's carbonated beverage market [7][12] Market Challenges - The brand has faced challenges due to changing consumer preferences towards healthier, low-sugar options, while Dai Yao's traditional recipes still rely heavily on sugar and additives [9][12] - The iconic glass bottle packaging, while cherished locally, has become a burden for national expansion due to high transportation costs and complex recycling processes [11][12] Acquisition by KKR - KKR's acquisition of an 85% stake in Dai Yao represents a shift towards a more aggressive business strategy, focusing on restructuring and maximizing company value [1][16] - KKR is known for its efficient capital management and has a history of transforming companies like Mengniu and ByteDance, which may lead to significant operational changes at Dai Yao [16][18] Future Implications - The acquisition may bring in much-needed capital for production upgrades and broader distribution, but it could also result in the loss of the brand's original identity and emotional connection with consumers [18][20] - The potential replacement of traditional packaging and recipes to align with modern health trends raises questions about the future of the brand's unique appeal [18][23]