- MingZhu Logistics Holdings ( NASDAQ: YGMZ ) has entered into a non-binding MOU to acquire Guizhou Alliance Liquor Management, a China-based distributor of Baijiu.
- The companies plan to further invest in and develop a commercial liquor distribution business across China.
- The acquisition is part of Mingzhu's previously announced strategic plan, under which the Co. announced its intention to expand into the commercial liquor distribution market given the synergies and adjacency to its existing business.
- Under the agreement, once the acquisition is completed, Alliance Liquor will develop its own Baijiu brand and high-end liquor customization OBM services.
- "We continue to evaluate other opportunities that can serve as natural extensions of our business and be totally additive from both a revenue and profitability standpoint, as we focus on building value for shareholders." said Mr. Jinlong Yang, Chairman and CEO of MingZhu.
For further details see:
MingZhu Logistics to acquire Alliance Liquor