转自：中国质量报 品质为擎 智造未来 —— 大窑饮品书写新质生产力答卷 内蒙古大窑嘉宾饮品有限公司 当前，中国正以"新质生产力"为引擎，全面推动质量变革、效率变革、动力变革，加速迈向质量强国。这一战略指引，既是社会发展的底层逻辑，更是企业 生存的核心命题。 作为中国大汽水品类的标杆品牌，大窑饮品自诞生之日起便将"品质至上"刻入企业基因，以"智造+绿色"双轮驱动，让每一瓶饮料成为质量自信的载体。在 新质生产力的实践浪潮中，大窑饮品既是见证者，更是参与者，正以实际行动书写传统饮品行业转型升级的答卷。 智能工厂：筑牢质量基石的"硬实力" 如今，大窑饮品在全国各地打造的七大智能生产基地，是其践行新质生产力的"硬核引擎"。在内蒙古、辽宁、吉林、宁夏、陕西、山东、安徽，大窑饮品布 局的智能工厂，构建起从原料溯源、生产工艺、成品检验到产能调配的全链路品质管控体系，不仅保障了产品质量与供应稳定，更实现了对市场需求的快速 响应，成为逐步助力区域经济活力的重要动能。 如果说智能工厂是质量的"硬支撑"，那么对品质的卓越追求则是"大窑"穿越市场周期的"软实力"。 大窑饮品对品质的坚守，首先体现在原料端的严苛把控——凭借完善的原料溯源 ...

Core Viewpoint - KKR is set to acquire 85% of Yuanjing International, the parent company of the domestic beverage brand "Dayao," which has seen significant growth in the Chinese market, raising questions about consumer acceptance of foreign ownership [2][4][7]. Company Overview - Dayao, founded in the 1980s, achieved a revenue of 3.2 billion yuan in 2023, positioning itself as a leading domestic soda brand in China [2][12]. - The brand has a strong market presence, with operations in 31 provinces and over a thousand distributors, focusing heavily on the restaurant channel, which accounts for over 85% of its sales [14][16]. Market Position and Performance - Dayao's market share has increased from 2.28% in 2023 to 2.64% in the first half of 2024, indicating a positive growth trajectory despite facing competition from established brands like "Liangle" and local sodas [18][19]. - The brand's sales strategy includes competitive pricing, with a wholesale price of approximately 3 yuan per bottle, allowing for significant profit margins for restaurant partners [16]. Challenges and Strategic Direction - Dayao's growth has been primarily reliant on the restaurant channel and a limited product range, with a noted lack of penetration in southern markets [3][23]. - The company is exploring national and potential international expansion post-acquisition, while maintaining its focus on brand development and consumer service [8][28]. Investment Implications - KKR's involvement is expected to enhance Dayao's operational capabilities through financial support, supply chain improvements, and management expertise, addressing existing weaknesses in production and market reach [11][28]. - The acquisition is viewed as a potential pathway to a "backdoor listing," reflecting the growing interest in the Chinese beverage market and the strategic positioning of Dayao as a leading player [28][29].

Core Viewpoint - The article discusses the acquisition of Guominsoda by KKR, highlighting the competitive landscape of private equity in the beverage sector and the potential implications for the market [3][5][19]. Group 1: Acquisition Details - KKR has received approval for the acquisition of Vista International Inc., which is linked to Guominsoda, with the deal expected to close soon [3][5]. - The acquisition involves KKR indirectly acquiring 85% of Vista International, which operates primarily in the beverage sector in China [5][8]. - The beverage market in China is experiencing significant changes, with KKR's move marking a notable entry of US private equity into the Chinese consumer space after several years [9][19]. Group 2: Market Context - The beverage industry is currently witnessing a wave of mergers and acquisitions, with KKR's interest in Guominsoda coinciding with other high-profile deals, such as the bidding for Starbucks China [21][22]. - The competitive landscape is characterized by a decline in carbonated beverage consumption, prompting companies like Guominsoda to seek new opportunities through acquisitions [19][23]. - The article notes that many consumer brands are becoming attractive targets for acquisition due to their stable cash flows and the current market conditions, which favor buyers with cash reserves [23][24]. Group 3: Company Background - Guominsoda, founded in the 1980s, has evolved from a regional player to a national brand, with significant market presence and a diverse product line [15][18]. - The company has faced challenges from major competitors like Coca-Cola and Pepsi, leading to strategic decisions that have shaped its growth trajectory [16][19]. - Recent reports suggest that Guominsoda's profits could reach between 1.5 to 2 billion yuan, indicating a strong financial position as it enters this acquisition phase [12].

Core Viewpoint - The article discusses the acquisition of Guomin Soda by KKR, highlighting the competitive landscape in the consumer sector and the increasing interest from private equity firms in Chinese beverage companies [1][3][15]. Group 1: Acquisition Details - KKR has received approval for the acquisition of 85% of Vist a International Inc., which is linked to Guomin Soda, with the approval finalized on July 4, 2024 [3][4]. - Tencent has shown significant interest in the acquisition, forming a dedicated project team, although KKR emerged as the final contender [1][3]. - The acquisition marks a significant move for dollar PE firms in the Chinese consumer market after several years [7][15]. Group 2: Market Context - The consumer investment landscape is experiencing a revival, with numerous high-profile acquisitions and mergers occurring globally [6][17]. - The beverage market is facing challenges, with a notable decline in carbonated drink consumption, prompting companies like Guomin Soda to seek new opportunities through acquisitions [15][22]. - The article notes that many consumer funds are actively looking for M&A opportunities, as asset prices are perceived to be low, creating a favorable environment for acquisitions [21][22]. Group 3: Company Background - Guomin Soda, founded in the 1980s, has evolved from a local brand to a national player, with significant market presence and a diverse product range [12][14]. - The company has been recognized for its competitive pricing and willingness to provide higher channel profits, which has facilitated its expansion [14][15]. - Despite previous high valuation attempts, the current acquisition may represent a strategic shift for Guomin Soda in a changing market landscape [8][10][15].