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Saturday, March 25, 2023

Softlogic buys Bangladesh retail superstore Agora – The Morning

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Softlogic Holdings PLC announced that the company’s fully owned subsidiary Softlogic Retail Holdings (Pvt.) Ltd. has entered into a sale and purchase agreement last Friday (4) for the acquisition of Agora Ltd. of Bangladesh by acquiring a 100% stake in the said company via a series of transactions, subject to terms and conditions set out therein and receipt of regulatory approvals.

Agora Ltd. of Bangladesh, headquartered in Dhaka, is a retail superstore that operates a chain of hypermarkets, discount department stores, and grocery stores.

Softlogic Retail Holdings (Pvt.) Ltd. drives the dynamic and aggressive retail sector of the Softlogic Group, encompassing synergies from its multi-brand and multi-channel strategy, focused on enhancing the retail landscape in Sri Lanka.

Softlogic Retail Holdings (Pvt.) Ltd.’s operations include branded apparel, consumer electronics, mobile handset and distribution, supermarkets, and quick-service restaurants.

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