After an almost unanimous vote by shareholders, Chinese retailer Lianhua Supermarkets is set to aquire Hualian Supermarkets for Yn492m (US$72m).

Hualian Supermarkets will become a subsidiary of Lianhua, increasing the chain’s number of supermarkets to 5,268, reported China Retail News.

The two chains will operate under a dual-brand strategy, according to Lianhua general manager Hua Guoping, involving direct operation, franchising and joint restructuring.

Just over 99 per cent of Lianhua’s shareholders voted for the acquisition.

Topics