Carlyle Backs China-based Vending Machine Co. with ¥530M
July 31, 2015
The Carlyle Group has invested ¥530 million ($85 million) in Beijing Ubox Technology & Trade Co., a vending machine operator in China established in 2010. The deal was made through the firm's Carlyle Beijing Partners Fund, which was established with the support of the Beijing Municipal Government. As of June 30, Ubox had a network of more than 30,000 vending machines across 58 cities in China. Along with traditional vending machine functionality, Ubox enables customers to shop online via its mobile app and collect their purchase at one of the company's interactive vending machines.