Beauty Farm Medical and Health Industry Inc, a leading beauty and health management platform in China, acquired a 70% equity interest in the core assets of Naturade Health Technology Co for RMB 350 million ($48 million).WHO: Naturade, founded in 2007, is the second-largest beauty, bodycare, and healthcare group in the Chinese market and the largest beauty brand in the Guangzhou-Shenzhen region.Beauty Farm Medical and Health Industry is one of China's largest beauty and wellness service providers and aesthetics medical brands. Over the past 30 years, Beauty Farm has developed a unique dual-beauty model, covering customers' beauty and health needs throughout their lifetime. They offer a diversified service matrix, including beauty and wellness brands Beauty Farm and Palaispa, aesthetic medical brand CellCare, and subhealth medical services brand Neology. Their nationwide store network reaches over 100 cities with over 400 stores and serves millions of mid- to high-end customers in top-tier cities in China. WHY: The transaction solidifies and increases the group's market share in the beauty and wellness industry. According to a Frost & Sullivan industry report, the Beauty Farm and Naturade brands are the largest and second-largest providers of traditional beauty services in China, respectively, as measured by revenue in 2021. Beauty Farm has successfully completed over 20 acquisitions in the beauty and wellness industry since 2014 with extensive integration experience.