N retail giant Dairy Farm International Holdings yesterday furthered its expansion into China with the purchase San Miu Supermarkets.
San Miu, a grocery store chain, operates in Macau, a Chinese special administrative region which has the same status as Hong Kong.
Dairy Farm Company, a wholly owned subsidiary, made the acquisition, adding San Miu’s 15 mass-market stores to Dairy Farm’s hefty total of more than 6,000 outlets. These outlets supply commodities as varied as foodstuffs, cosmetics and home furnishings across Asia.
“The acquisition of San Miu reinforces Dairy Farm’s retail presence in Macau, and complements its well-established convenience store and health and beauty businesses in the territory,” the company said.
Dairy Farm’s purchase comes on the heels of a mixed annual report earlier this month. While sales in 2014 climbed five per cent to over $13bn (£8.7bn), profits before tax fell to $601m, a two per cent drop since 2013.