China’s Bianlifeng acquires VC-backed Lingwa
Bianlifeng, a Chinese PE-backed cashier-free convenience store operator, has acquired a controlling stake in its peer Lingwa. Financial terms were not disclosed.
The acquisition will help Bianlifeng expand its market reach by adding Lingwa’s 10,000 stores to its existing network. As part of the deal, Lingwa will continue to operate independently under its own...
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