Primavera Capital Group and FountainVest Partners completed the acquisition of a 25% stake in LBX Pharmacy from EQT for $517m.

Private equity firms Primavera Capital Group and FountainVest Partners completed the acquisition of a 25% stake in LBX Pharmacy, a discount pharmacy superstore chain in China, from EQT Partners for $517m. “During EQT Greater China’s joint ownership, LBX has captured the fast growth of the retail pharmacy sector in China through successful store openings and upgrades, margin improvement and acquisitions. We are grateful for Mr XIE’s leadership, the insightful contribution of the board members, and the management team’s hard work,” Martin Mok, EQT Partner.