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Article: China Nepstar Enters Wenzhou Market with Acquisition.
- Article from:
- China Weekly News
- Article date:
- November 3, 2009
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China Nepstar Chain Drugstore Ltd. (NYSE:NPD) ("China Nepstar" or the "Company"), the largest drugstore chain in China based on the number of directly operated stores, announced that it has entered into a definitive agreement with Wenzhou Ren Ren Hao Chain Drugstore Ltd. ("Ren Ren Hao") to acquire the operations of all of its eight drugstores in Wenzhou City. This acquisition represents China Nepstar's first retail presence in Wenzhou, one of the most affluent markets in Zhejiang province in terms of consumption power. The transaction is expected to be completed by the end of 2009.
Located on the east coast of China, Wenzhou is situated between the Yangtze River ...