Business Activities News
- Dairy Farm JV to buy Guangzhou rival
Date: 6-Mar-2007 Sources: (Shenzhen Daily)
DAIRY Farm International Holdings Ltd. said yesterday that its Chinese joint venture would buy rival Guangzhou Lianhua Quik Convenience Co. Ltd. to strengthen its leadership position in Guangdong. Guangdong Sai Yi Convenience Stores Ltd., also known as 7-Eleven South China, would pay an undisclosed sum to take over Guangzhou Lianhua Quik, which operates 110 Quik convenience stores in Guangzhou, Dairy Farm said in a statement. The Quik stores would be re-branded as 7-Eleven convenience stores after completion of the deal, which was expected by mid-March, said Dairy Farm, a unit of Jardine Matheson Holdings.
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