(Yicai Global) July 13 -- Major Chinese cabinet maker ZBOM will acquire a 47 percent stake in established kitchen furniture maker IJF Australia for AUD6.7 million (USD5 million) as part of efforts to expand overseas.

ZBOM will become IJF's biggest shareholder through the transaction, the Anhui-based firm said in a statement. The acquisition will help ZBOM to expand sales channels in Australia and promote its product design and manufacturing technology standards.

IJF boasts some 54 years of professional experience and has set up multiple partnerships with large listed real estate developers and general contractors in the country.

Editor: William Clegg