Macau | Dragon Jade acquires 80 pct of Macau, China wine importer

Macau (MNA) – Dragon Jade International announced that it has entered an agreement to acquire 80 per cent of the issued share capital of China Management Services Limited in Montrose Group for HK$2 million (US$ 254,826) in cash and 100,000 in restricted common shares, according to a press release.

Montrose Group is an importer and distributor of wines in Macau, Hong Kong and Mainland China, while Dragon Jade International distributes healthcare products.

According to the release, Dragon Jade will leverage its distribution market to expand the Montrose Group business, particularly in Shanghai, Beijing, Guangdong,Jiangsu, and Zhejiang, with an expectation to achieve HK$10 million in revenue in the first year of the acquisition with net margins of 20 per cent.

“To help the Montrose Group’s revenues reach new highs, we will expand its market presence by leveraging our strong localised distribution network across Greater China, including those of local, Chinese individual distributors and corporate clients,” explained Dragon Jade CEO Steve Lai Yat-Man.