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Home World sells nine stores to Meet All
enorth.com.cn   2006-12-01 15:00


(Enorth.com.cn)Tianjin-headquartered Home World, the largest hypermarket retailer in North China, agreed to transfer nine of its stores to Taiyuan-based Shanxi Meet All United Supermarket Co Ltd, a move that both companies consider important.

Under the agreement, Home World will transfer all its suppliers and staff in its nine stores in Inner Monglia Autonomous Region, East China¡¯s Shandong Province, North China¡¯s Shanxi Province and Boding, a city of North China¡¯s Hebei Province to Meet All.

The deal signals that Home World has determined to focus its attention on the markets in Tianjin, Xi¡¯an, capital of Shaanxi Province, Beijing, Zhengzhou, capital of Central China¡¯s Henan Province, Lanzhou, capital of Northwest China's Gansu Province and Shijiazhuang, capital of Hebei province.

¡°It will be a win-win situation for Both Home World and Meet All. The Home World will focus on its major markets and Meet All gains development opportunities outside its base Taiyuan,¡± said Du Sha, founder and chairman of the Home World.

The move represents a large step for Meet All, a retailer which only has presence in Taiyuan, Shanxi Province. Chu Dequn, founder and president of Meet All, said, ¡°We are glad to reach an agreement with the Home World. And we are looking forward to forming long term and effective relationships with current suppliers and staff involved in the nine stores.¡±

Both retailers agreed to cooperate with each other to lighten the influence the deal may bring to relevant suppliers and employees.

About the Home World

Tianjin-based the Home World, the largest hypermarket retailer in North China, has had 65 stores in 18 cities so far. The private-owned firm opened its first store in 1997.

About Meet All United Supermarket Co Ltd

The Shanxi Meet All United Supermarket Co Ltd, established in 1998, has 7 stores in Taiyuan, capital of North China¡¯s Shanxi Province.


Editor: Zhang Jialu
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