Business Intelligence on Retailing, Franchising, and Consumerism in China


China Resources Vanguard Acquires Wuxi Yong'an Supermarket

China Resources Vanguard has announced that it has formally acquired the Wuxi-based supermarket chain Yong'an.

China Resources Vanguard started discussions with Yong'an Supermarket about the acquisition at the beginning of 2008. In April 2009, the two sides signed an agreement, which said China Resources Vanguard would purchase Yong'an Supermarket by asset acquisition.

On the completion of this acquisition, China Resources Vanguard will have 35 outlets in Wuxi. Starting from April 30 this year, China Resources Vanguard will take over and renovate Yong'an Supermarket's 25 outlets in five batches. Ten of these outlets, including the Fenglei store, the Fengshun store, and the Xufeng store, will be reopened after renovations. The acquisition and renovation are expected to be fully completed by the end of May 2009.

In addition, China Resources Vanguard will take on all the current employees of Yong'an Supermarket.






Be the first to comment on "China Resources Vanguard Acquires Wuxi Yong'an Supermarket"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco