Okay, here are a few options to rewrite the title for a Western audience in English: * **Chinese Soda Brand “Dayao” Reportedly Targeted for Acquisition by US Private Equity Firm; Wu Jing Has Been Longtime Spokesperson** * **US Private Equity Eyes Acquisition of Popular Chinese Soda Brand Dayao, Endorsed by Wu Jing** * **Dayao Soda, a Staple in China, Could Be Acquired by American PE Firm; Wu Jing’s Endorsement Deal in the Spotlight** I think the first option is the best. Chinese Soda Brand “Dayao” Reportedly Targeted for Acquisition by US Private Equity Firm; Wu Jing Has Been Longtime Spokesperson

CNBC AI News, July 18th – A seemingly humble, budget-friendly soda brand, “Dà Yáo” (大窑), is suddenly finding itself the center of attention from international giants like Coca-Cola, private equity powerhouse KKR, and the wider capital markets.

The latest development centers around the equity ownership of Dà Yáo Guest Drinks Co., Ltd., the company behind the popular domestic soda brand.

According to a list of unconditionally approved business concentration cases released by the State Administration for Market Regulation, KKR’s acquisition of shares in Vision International Limited was completed on July 4th, 2025.

The transaction involves a significant 85% equity stake, granting KKR indirect sole control of the target company upon completion.

Reports indicate that the director of Vision International is named “WANG, QINGDONG,” a pinyin spelling identical to that of Wang Qingdong, the founder and chairman of Dà Yáo Soda.

Several media outlets have previously reported that KKR is poised to acquire an 85% stake in Dà Yáo Soda, with the founder potentially retaining a minority share.

Dà Yáo Guest Soda, the flagship product of Dà Yáo Drinks, is a well-established domestic brand, often seen as a staple at barbecue restaurants and roadside eateries across China.

Initially focused on sales in Inner Mongolia, the brand embarked on a nationwide expansion in 2022. The company enlisted Wu Jing, a popular action movie star, as its brand ambassador and significantly increased advertising spend across various channels, including shopping malls, subway stations, and high-speed railway stations. This marketing blitz propelled Dà Yáo Soda into national prominence.

Market data from December 2023 to November 2024 shows that Coca-Cola, PepsiCo, and Dà Yáo dominate the domestic sweetened soda market, collectively holding a massive 92.87% market share.

When contacted about the acquisition, Dà Yáo representatives stated that the current management team remains stable and business operations are proceeding as planned.

The company emphasized that future decisions will be guided by long-term brand development and a commitment to providing consumers with superior products and services, reaffirming that its national expansion and youth-focused strategies are unchanged.

However, rumors of a potential acquisition or initial public offering (IPO) for Dà Yáo have been circulating since 2023.

In October 2023, speculation arose that Coca-Cola was considering acquiring Dà Yáo, a rumor the company declined to comment on, ultimately fading away.

In July 2024, Dà Yáo was again linked to a potential acquisition, this time by We维维股份i, although the latter denied the reports.

More recently, in February 2025, rumors surfaced regarding a potential IPO for Dà Yáo, which the company subsequently denied.