Beijing-based cashier-free stores operator Bianlifeng has acquired a controlling stake in its peer Lingwa, reported CMN. The financial terms of the deal were not disclosed.
The acquisition will help Bianlifeng expand its market reach by adding Lingwa’s 10,000 stores to its network. After the merger, Lingwa will continue to operate independently under its own brand, while Bianlifeng will share its IT platform, logistics resources and customers with Lingwa, the report said.
