# Sequoia

China’s ‘Kimchi King’ Jixiangju Sells Control to FountainVest, Founder Steps Aside as IPO Lingers

Jixiangju, a leading Sichuan condiment maker long expected to list, has been sold to private equity firm FountainVest in a deal transferring roughly 92% of equity and effectively ending founder Ding Wenjun’s control. The transaction lets early investors monetise and could accelerate or reshape Jixiangju’s path to a public listing while altering competitive dynamics in China’s condiment market.