Dairy Farm buys San Miu to expand in China

Asian retail giant Dairy Farm International Holdings has announced the purchase of Macau-based supermarket chain San Miu to further increase its expansion in the Chinese market.
‘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 in a press release.
Dairy Farm didn’t disclose the amount paid for San Miu, a supermarket chain that operates 15 mass market outlets in Macau with an average store size of 9,500 square feet.
Dairy Farm is a leading pan-Asian retailer; the group and its associates and joint ventures operate over 6,100 outlets and employ over 100,000 people. The total amount of sales last year surpassed US$13 billion. The company has a network of supermarkets, hypermarkets, convenience stores, health and beauty stores and home furnishings stores under well-known brands. In Hong Kong, for example, it has a 50 per cent stake in Maxim’s, a famous restaurant chain in the city.
San Miu said it is going to maintain the name of the supermarket chain as well as the operation mode. The company will inform business partners and put up notices. Business Daily has approached Dairy Farm for more details regarding the deal but received no reply by the time this story went to press.