Yonghui Superstores Co Ltd, the Fuzhou-based supermarket chain and one of China’s Fortune 500 companies, has completed the sale of 5.7 billion yuan ($912 million) worth of shares, around 20 percent, to Dairy Farm International Holdings Ltd to fund various expansions including the setting up of an e-commerce platform. It is the second time Yonghui has raised funds by selling stock after it went public on the Shanghai Stock Exchange in 2010…Full Article: China Daily Feb 2015
- As of early 2015, Yonghui manages 460 supermarkets across 17 provinces and municipalities (including Beijing, Shanghai, Chongqing, Zhejiang and Guizhou) making it China’s fifth largest hypermarket chain.
- Dairy Farm manages more than 5,800 supermarkets and other stores all over Asia.
- Established in 2001 and headquartered in Fuzhou, Fujian Province, Yonghui operates 460 medium-sized supermarkets all over China (as of 2015). Yonghui has seen healthy growth which the company attributes to their focus on fresh products, which occupies 40-50% of a single store’s floor space.
- Founded in 1886 and headquartered in Hong Kong, Dairy Farm is a pan-Asian retailer that operates supermarkets, hypermarkets, convenience stores, health and beauty stores and home furnishings stores. As of 2013, a 50% interest in Maxim’s, Hong Kong’s leading restaurant chain.