Benzinga | Jun 29, 2021 01:40PM EDT

Baozun To Buy eFashion China For Undisclosed Sum In All Cash Deal

* Baozun Inc (NASDAQ:BZUN) has acquired 100% equity interest in Shanghai Yi Shang Network Information Co Ltd (eFashion China), a provider of e-commerce solutions for fashion brands in China, in an all-cash deal.

* The terms of the deal were not disclosed.

* The transaction is expected to complete in the third quarter of 2021.

* After the acquisition, eFashion China will serve as a sub-brand of Baozun.

* "We are excited about this acquisition as both Baozun and eFashion China share an ambition and commitment to bring global fashion brands to the fast-growing China e-commerce market," said Vincent Qiu, Chief Executive Officer, Baozun.

* Baozun's cash and equivalents totaled $680.90 million as of March 31, 2021.

* Price action: BZUN shares closed higher by 0.38% at $37 on the last check Tuesday.