Xinhuajin Group acquires the world's second male brand OR Company

Qingdao News Network January 18th When the global economic crisis has not been completely eliminated, Qingdao's foreign trade export enterprises have gone against the trend and achieved results. The reporter recently learned that as a leading exporter of foreign trade, Xinhuajin Group successfully acquired 100% of the shares of the US OR company. This also announced the 20-month negotiation process, which ended with the successful acquisition of the world's second largest male brand by Qingdao.

It is understood that in November 2009, the Huahua Yue limited liability company, a wholly-owned subsidiary of Xinhuajin Group, signed a "share purchase agreement" with the United States to acquire the US OR company 100.

% of shares. On December 1, the buyer and the seller completed the payment delivery process. So far, after 20 months of negotiation, Xinhuajin Group completed the acquisition of OR Company of the United States and took an important step in the international development of Xinhuajin Group.

It is reported that, in 1975, founded the company OR (On-Rite Company Inc.), is mainly engaged in male hair pieces, hair ladies fake hair products and other high-end import and wholesale, is the world's second-largest male hair brand, the company has On The -Rite, Gemtress and Ultratres brands enjoy a high reputation in the international hair products market.

"This acquisition will build on the existing foundation, build a strategic framework for multinational companies, and target both domestic and international markets, acquire and deploy global strategic resources, participate in cross-border competition, guide the development of various industries with a global vision, and promote the Group. Realizing the transformation from big to strong.” Zhang Jianhua, chairman of Xinhuajin Group, said that since its establishment in 2002, it has accumulated a total import and export volume of more than US$12.5 billion, and has been ranked first among Shandong Province’s import and export enterprises for five consecutive years. As early as July 2007, Xinhua Jin determined the strategic adjustment of the strategic transformation of the multinational company model and formulated the second five-year development strategy plan.

The acquisition of the US OR company is also an initiative of the city's key foreign trade export company Xinhua Jin to implement transnational operations. Xinhuajin Group has been engaged in the production and export of hair products for decades. For a long time, products have played an important role in the international market. Through the acquisition of the US OR company, Xinhuajin Group has become the owner of the international brand and market network, which has improved the leading ability in the international market to a certain extent and enhanced the competitiveness of international trade. (Qingdao News Network reporter Zhu Ying)

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OR company profile

Founded in 1975, On-Rite is the leader of male hairblocks and fashion wig promoters for more than 30 years. The company is based in Fort Lauderdale, Florida, USA and employs 75 people and is the owner of the On-Rite, Gemtress and Ultratras brands. In the US and around the world, companies offer wig retailers a unique one-stop shop and a wide range of products and services.

The company's wholesale business includes special orders and general orders, including male hair pieces, full wigs, clockwork, adhesives and various hair care products and accessories. On-Rite provides a comprehensive service to wig retailers and hair salons that purchase their products, covering marketing, marketing planning, etc., through consulting, training and technical support. The service is very rich, including course guides, videos, and advertising materials. With the growth of On-Rite, a variety of in-depth training, teaching, practice and exhibitions were held to help retail store owners, managers and staff.