BEIJING (XFN-ASIA) - Johnson & Johnson has acquired the Beijing-based cosmetics maker Dabao for 2.3 bln yuan, the China Business Post reported.
The newspaper said the acquisition deal was signed on March 27.
Citing a staff at Dabao, the newspaper said the welfare of more than 41 pct of Dabao's handicapped employees will be arranged 'appropriately' after the take-over, but added that for the time being, Dabao's operations are 'normal'.
Dabao, which focuses mainly on low- and medium-end products, will maintain its proprietary brand after the acquisition, the newspaper added.
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