With the opening of the new Shenzhen exhibition center, Hometex is set for expansion.
Tarsus Group has made another acquisition this month and its second recent acquisition in China, with a 65-percent stake of Foshan Huaxia Home Textile Development Co., Ltd. (“Foshan Huaxia”) from the Guangdong Home Textile Association and Association Member shareholders.
Foshan Huaxia owns the Home Furnishing Expo (Hometex), the leading biannual home textiles exhibition in China.
The acquisition of 65 percent of Foshun Huaxia was made for an estimated cash consideration of RMB174m (approximately £19.3m and $23.8 million).
“Following the recent acquisition of Intex in Shanghai, we are delighted to be acquiring Hometex in Shenzhen,” said Douglas Emslie, Tarsus managing director.
He added, “These are the two key trading hubs in China for Tarsus and we now have four of the largest exhibitions in Shenzhen. These acquisitions will further deepen our exposure to industries benefiting from the strong shift towards domestic expenditure that is underway in China, which is the second largest exhibition market in the world…read more at Trade Show news Network.
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