Affinity Equity Partners, a Hong Kong-based buyout firm, has completed two acquisitions in Southeast Asia worth a combined USD1.65bn, Reuters reported. The firm purchased Jakarta-based gummy candy maker Yupi for USD1.2bn. Founded in 1996, Yupi is one of Asia's largest gummy candy producers, selling in over 50 countries. Affinity acquired the company from its founders, according to the report. Affinity also acquired Malaysian seafood processor Golden Fresh for USD450m. Established in 1989, Golden Fresh is based in Penang. The deals highlight opportunities in Southeast Asia amid subdued dealmaking, with M&A activity in the region dropping sharply this year, a Boston Consulting Group report showed. Affinity, managing USD14bn in assets, has 58 investments across 11 countries in Asia Pacific.