Johnson and Johnson Buys Dabao
Johnson and Johnson has agreed to buy one of China's most famous cosmetic companies, Dabao, Market Watch reports. Financial details were not disclosed but insiders estimate the U.S. company is willing to pay RMB2.3 bn. Dabao produces a variety of skin care products, including body milks, day creams and sun blocks. It was sold by state-run company Beijing Sanlu Factory.
Baskin-Robbins Opens 50 Ice Cream Shops
Ice cream maker Baskin-Robbins will open its first shop in Shanghai
later this year, the company said in a statement. The U.S. company is
teaming up with Shaanxi Stellerich Food and Restaurant Co to open 50
outlets in Shanghai and Jiangsu, Zhejiang and Shaanxi provinces in the
next five years. Baskin-Robbins entered China in 1993, and runs 24
stores in Beijing and 16 in Hebei and Liaoning provinces.
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