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» 23/07/2009 [Company watch]
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»11/12/2009 [Industry news]
China Nepstar acquires Xiang Yun Kang Drugstore in Beijing

China Nepstar Chain Drugstore, the largest drugstore chain in China based on the number of directly operated stores, has entered into a definitive agreement with Beijing Xiang Yun Kang Drugstore, to acquire all of its six drugstores in Beijing.

 
China Nepstar Chain Drugstore, the largest drugstore chain in China based on the number of directly operated stores, has entered into a definitive agreement with Beijing Xiang Yun Kang Drugstore, to acquire all of its six drugstores in Beijing. This acquisition will be China Nepstar\'s second acquisition in Beijing. In the first ten months of 2009, the six drugstores being acquired generated unaudited revenues of approximately RMB6 million. These stores have an average store size of 140 square meters, and are located in densely populated residential areas in Beijing. Together with the five stores acquired in July 2009, all Nepstar\'s Beijing stores will be serviced by its regional logistics center in Tianjin, where Nepstar has over 100 stores. Tianjin is approximately 120km to the southeast of Beijing. Mr. Ian Wade, Chief Executive Officer of China Nepstar, said, \"In the second half of 2009, we are encouraged by Chinese economic recovery and revived consumer confidence, which support our decision to expand in new markets. Beijing has always been one of the most important markets for China Nepstar given the high consumption power of its local residents. Since our acquisition of Beijing Ze Run Tang to make our inroad to Beijing, we have completed the renovation and re-branding of four acquired stores so far. We are confident that we will be able to improve the profitability of these acquired stores very soon. We will continue to seek good acquisition targets in Beijing and further expand our footprint in this important market.\" As of September 30, 2009, China Nepstar had 2,337 stores across 67 cities, one headquarter distribution center and 12 regional distribution centers in China. Nepstar uses directly operated stores, centralized procurement and a network of distribution centers to provide its customers with high-quality, professional and convenient pharmacy services and a wide variety of other merchandise, including OTC drugs, nutritional supplements, herbal products, personal care products, family care products, and convenience products including consumables. Nepstar\'s strategy of centralized procurement, competitive pricing, customer loyalty programs and private label offerings has enabled it to capitalize on the robust economic growth in China and to take advantage of the demographic trend in China to achieve a strong brand and leading market position.

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