Iconic American Companies Owned by Chinese Investors

Headquarters: Miami Beach, Florida
Bought By: China Life Insurance Co. Ltd
Headquarters: Beijing, China

When Starwood Capital Group Management LLC launched in 1991, its founders Barry Sternlicht and Robert Faith weren’t afraid to make big purchases. In 1994, they teamed up with Goldman Sachs to purchase Westin Hotels and Resorts, splashing $561 million. The sale really put them on the map.

The cash was rolling in, but every prime business needs investors to keep things moving. In 2016, China Life Insurance Co. Ltd partnered with Starwood to inject $2 billion into select-service hotels. “We are thrilled to embark on a partnership that represents a first-of-its-kind relationship for our firm,” said Sternlicht at the time.

Headquarters: Unknown
Bought By: Xtep International
Headquarters: Hong Kong

Many people may know E-Land Footwear USA as the owner of K-Swiss, but the company itself was sold to Xtep International in 2019. Hong Kong-based Xtep forked out $260 million to acquire the business, swallowing the California K-Swiss brand along with it.

In a statement regarding the purchase, Xtep’s managing director Ding Shui Po explained what the purchase meant for the company. “Not only will it strengthen Xtep’s foothold in the expanding Chinese sportswear market, but it will also provide us with growth opportunities in untapped overseas markets such as Southeast Asia.”

Headquarters: Saratoga, CA
Bought By: Primavera Capital Group
Headquarters: Beijing

Private schools can be a lucrative business enterprise as well as a great way to educate people. In 2017, Beijing’s Primavera Capital Group bought the Saratoga-based school for $500 million. Nobel Learning Communities was previously owned by Investcorp, with over 25,000 students in 190 schools.

Some parents were concerned about the schools being bought by a Chinese company initially and wrote a letter to oppose the deal. However, Primavera continued to go ahead with the deal until it was all squared away. Tuition for the schools in question starts at $32,000 a year.

Headquarters: Minnetonka, Minnesota
Bought By: HNA
Headquarters: Haikou, Hainan

Carlson Hotels Inc. was founded in 1938 by Curt Carlson. Amazingly, Carlson started the company after his landlord gave him a $55 loan. It started out as a trading company called Gold Bond Stamp before expanding into hospitality. In 2016, Fortune 500 company HNA Tourism bought Carlson Hotels for an undisclosed amount.

HNA are heavy hitters in the industry with several high profile travel brands already under its umbrella. As well as Spain’s NH Hotel Group, Azul airline, Swissport International, and Red Lion Hotels. The privately traded group is worth an estimated $53 billion.

Headquarters: Auburn Hills, Michigan
Bought By: AVIC Automobile
Headquarters: Beijing

Nexteer Automotive provides all sorts of parts that are needed to make reliable cars, from hydraulic power steering systems to steering columns, and more. Founded by General Motors, the company has over 46 locations. As you might have guessed, it’s parent company isn’t on Uncle Sam’s shores anymore.

In 2011, Chinese company AVIC Automobile became the largest majority stakeholder of Nexteer. The deal was approved by CEO Robert J. Remenar. According to China Daily, Remenar said, “The acquisition made very good sense” as the Chinese market had enough potential to help the business grow exponentially.