From Reuters,
U.S. home improvement chain Home Depot Inc.
said on Wednesday it would buy Chinese retailer The Home Way, marking its first foray into retailing in fast-growing China. Terms were not disclosed, but Home Depot said the acquisition will give it 12 stores in six cities and access to a $50 billion home improvement market that is growing at 20 percent per year.
…The Home Way purchase gives Home Depot another potential platform to drive earnings as its retail-sales growth slows in the United States. China’s billion-plus population and rising homeownership are luring many foreign retailers.
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Related reports from The New York Times: “Home Depot to Buy Prot√©g√© Retailer in China.”
