MINISO to acquire a 29.4% stake in Yonghui Superstores from DFI Retail for CNY6.3bn.

MINISO, a global value retailer offering a variety of trendy lifestyle products featuring IP design, agreed to acquire a 29.4% stake in Yonghui Superstores, a retail chain operator in China, from DFI Retail, a pan-Asian retailer, for CNY6.3bn. "I firmly believe that this transaction presents great growth potential for our company and will bring long-term value to our shareholders. With our support and leveraging our expertise in design-led products, Yonghui will be poised to develop higher-quality self-branded products to cater to evolving consumer needs. Furthermore, I believe that our collaboration with Yonghui in retail channel upgrade and supply chain will enable us to share resources to further enhance economies of scale, optimize the cost structure and create value for consumers. This transaction will also expand our access to the essential goods sector, allowing us to diversify our business and mitigate cyclical risks," Guofu Ye, MINISO Chairman and CEO.