China Nepstar Chain, the largest drugstore chain in the country, has agreed to buy the five-store Beijing Run Ze Tang drugstore chain. The stores have an average size of 170 sq.m., and will be serviced by the Company’s regional logistics center in Tianjin.
Ian Wade, co-CEO of China Nepstar, said, “This acquisition represents the initial step for China Nepstar to enter into the Beijing market, which we believe to have significant development potential. This is also our first chance to showcase Beijing customers our wide product offerings and advanced store management. We plan to continue to expand in Beijing through gradual ramp-up in new store openings and high quality acquisitions”.
The deal, which gives China Nepstar its first retail presence in Beijing, is expected to be completed in August.