Hualian invested more than 20 million yuan to buy Chongming County supply and marketing supermarket 70% shares

After 3 years of adjustment, the Hualian of the group's new acquisitions. 23rd, Hualian in Chongming County held Chongming County Supply and marketing supermarket shares delivery ceremony, at more than 20 million yuan price, the acquisition Chongming County 70% shares in the supply and marketing supermarket. Chongming County Supply and Marketing supermarket, formerly known as the Golden Leaf supermarket, under the Chongming County Tobacco Sugar Company, the end of 2006, the cigarette Sugar company after the withdrawal of capital, by the Chongming County supply and marketing cooperation head office and the subordinate temple town, the town of cooperatives, Bao Township supply and marketing cooperatives, Chen home town, joint venture to The supermarket company existing 31 direct Business Standard Super stores, 145 stores, a distribution center, two two-level distribution station. Direct store total area of nearly 20,000 square meters, the annual sales scale of 450 million yuan, the largest supermarket company Chongming County. It is understood that the Chongming County supply and marketing supermarket will gradually flop for Hualian. After the establishment of the group, because of the same Lianhua and Hualian industry, for the integration of demand, the outside world had thought that Hualian brand may disappear, replaced by Lianhua. But 3 years later, Hualian the merger, industry insiders believe that this from a side of the future Hualian brand will remain independent. It is reported that Hualian existing more than 1900 stores, is the second largest supermarket in Shanghai after Lianhua company. Hualian Chairman Tang Qi said yesterday, and Chongming County supply and marketing supermarket cooperation, for Hualian accelerated development laid the foundation, at the same time will be implementing the Yangtze River Delta development strategy to broaden the platform. Chongming County Supply and marketing supermarket related leaders, the reason for the choice of equity cooperation with Hualian, because in the Chongming tunnel under construction, the market will be opened in the situation, Chongming County supply and marketing supermarket in order to further develop, we need to find strong cooperation, complementary partners. Tang Qi that Hualian at this time to choose mergers and acquisitions, through 3 years of tamping adjustment, the development of their own strength has been restored and strengthened, the need to expand the size of the network, to expand market share, to achieve a stable development of strategic objectives.