KKR is nearing an agreement to acquire a controlling 85% stake in Chinese beverage company Dayao, marking the latest move by the global investment firm to expand its consumer portfolio in Asia, according to sources familiar with the matter.

The deal would see Dayao’s founding team retain a minority stake, while KKR assumes majority control. The transaction is still subject to regulatory approval in China and has not yet been finalised.

Headquartered in Inner Mongolia, Dayao produces a range of popular consumer drinks, including carbonated sodas, fruit juices, and protein-enriched beverages. The company also has an international presence, exporting to Russia and Southeast Asia.

Dayao had previously been exploring a Hong Kong listing to raise up to $500m, according to Bloomberg reporting earlier this year. The shift toward a strategic buyout reflects growing private equity appetite for high-growth consumer brands in Asia, particularly those with regional export reach and brand visibility.

KKR declined to comment on the deal. Dayao did not respond to requests for comment.

Source: Bloomberg

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