Browsing: benefit of acquisitions

OK Zimbabwe has concluded the acquisition of Food Lovers Market, which gives the supermarket chain exclusive rights to the brand in Zimbabwe.

OK Zimbabwe, a supermarket chain, has acquired Food Lovers Market, giving it exclusive rights to the brand in Zimbabwe. The acquisition will improve the retailer’s position in the premium retail market, according to a statement from the company.

“The company successfully concluded the acquisition of the assets and business of Talwant Investments trading as Food Lovers Market in Harare’s Borrowdale and Avondale as well as Bradfield, Bulawayo,” said company secretary Margaret Munyuru.

The deal includes the assets and business of Food Lovers Market in several locations, including Harare and Bulawayo, but excludes the Greendale store.

Manyuru said the transaction includes the granting of a Territorial License Agreement, which provides OK Zimbabwe with “territorial exclusivity” for the expansion of the Food Lovers Market brand within the Zimbabwean market.

OK Zimbabwe CEO, Maxen Karombo, said the acquisition would enhance the company’s participation in the premium retailing of gourmet food, fruits, and vegetables. …