Chinese private equity firm Hony Capital, through Hony Capital Fund VIII, agreed to invest up to HK$780 million in Best Food Holding Co. Ltd., DealStreetAsia reported, citing a filing from Best Food with the Hong Kong Stock Exchange.

Hony Capital agreed to subscribe to bonds that are convertible into more than 661 million shares at HK$1.18 per share, according to the report.

Best Food is Hony Capital's catering and retail unit.