June 7, 2010 (FinancialWire) — China BCT Pharmacy Group, Inc., (OTCBB: CNBI), a Chinese pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products, said it has acquired 11 retail pharmacy stores in Laibin City, Xiangzhou County.

Under the deal, China BCT acquired 11 retail pharmacy stores in Laibin City for $0.6 million in cash from Laibin Teng Fei Pharmaceutical, a local retail pharmaceutical firm.

China BCT said it will invest a total of around $49,000 to upgrade these stores to the company's operating standards. Renovation for some stores has already begun, according to the firm, with upgrades to all stores expected to be completed by July.

The company estimates average annual sales per store to be approximately $145,000 and anticipates the payback period to be about three years. China BCT management expects these newly acquired stores to contribute around $1 million to China BCT's revenues in 2010.

China-based China BCT is engaged in pharmaceutical distribution, pharmacy retailing, and the manufacture of pharmaceuticals products through its subsidiaries Guangxi Liuzhou Baicaotang Medicine Limited, Hefeng Pharmaceutical Co. Limited, and Guangxi Liuzhou Baicaotang Medicine Retail Limited in Guangxi province, China.

The company operates a regional retail network in Guangxi province, consisting of 125 directly owned retail stores in Guangxi province.

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