China-based footwear manufacturer Belle International is to acquire Shanghai Aurora Footwear Co from Jiangsu Senda Group for CNY563m (US$75.83m).

"After the acquisition, the group's production and warehouse capacity will be substantially increased, that will enhance the efficiency of its vertically integrated business model," Belle said in a statement. 

"The acquisition is expected to enhance the economics of scale of production of the group and maximise its ability to produce products that cater for expanding market demand."

Belle last week (14 November) announced that it was planning to acquire five other footwear companies in the Senda portfolio for CNY1.6bn (US$215.4m), including Jiangsu Senda Footwear Co, Zigui Yongxu Footwear Co, Jiangsu Senda Group Sanxia Footwear Co, Shanghai Basto Footwear Co and Shanghai Xiweideng International Trading Co.