China’s leading trading companies Suning has completed the acquisition of Carrefour China, in a $678 million deal .
Details are provided below:
- Carrefour China will open 300 new stores in China in next five years
- The integration of e-commerce companies and supermarkets (offline) is expanding retail sector in China.
- Zhang Jindong, president of Suning Holdings Group, said: “This is a key step in Suning’s smart retail business plan. Carrefour’s fast replenishment assets and supply chain capabilities can be integrated into the model. Suning’s full-scale retailer , Suning’s robust logistics network and advanced technology.With our smart retail capabilities , Suning can turn Carrefour stores into fully integrated online and offline supermarkets to meet rapidly evolving demands of consumers . “