Cross-border supply chain solutions provider Lakeside Holding Limited (Nasdaq: LSH), operating under the brand American Bear Logistics (ABL), announced on Monday that its wholly-owned subsidiary Sichuan Hupan Jincheng Enterprise Management Co Ltd has signed an equity transfer agreement to acquire Hupan Pharmaceutical (Hubei) Co Ltd, a manufacturer of APIs and intermediates.

The deal is valued at CNY4m (USD0.6m) and is anticipated to deliver around USD7m of annual revenues to Lakeside.

Henry Liu, Lakeside chairman & CEO, said: "The acquisition of Hupan Pharmaceutical provides Lakeside with an important foothold into the lucrative medical logistics trade. With American Bear Logistics and now Hupan Pharmaceutical, Lakeside is positioned with two highly specialised companies, each supported by experienced teams, advanced technology, and a solid foundation of customer trust. This acquisition enables us to bring top-tier logistics and supply chain solutions to the pharmaceutical sector in China, expanding our reach and capabilities across critical and emerging markets."

(USD1=CNY7.23)