SHAMK9
SENIOR MEMBER
- Joined
- Mar 5, 2010
- Messages
- 6,095
- Reaction score
- 4
- Country
- Location
KARACHI:
METRO Cash & Carry Pakistan and Makro-Habib Pakistan have announced on Thursday, the completion of their merger, after obtaining approval from shareholders and the anti-trust and corporate authorities of Pakistan.
The merged entity will now be known as METRO-Habib Cash & Carry (Private) Limited, and will operate nine wholesale centres in four major cities.
The merger is now complete with the approval of the Pakistani anti-trust and corporate authority, regulatory and other approvals and the sanction of the Court, [sic] a press release issued by the company said.
METRO Cash & Carry Pakistan (Private) Ltd and Makro-Habib Pakistan Ltd had announced their merger plans in June last year.
With the merger of our businesses, we have combined resources to gain the financial strength to lead and grow in a challenging environment, and to create synergies targeted to generate value for our customers and suppliers alike, METRO-Habib Cash & Carry (METRO) Managing Director David Boner said.
With its combined strength, the company will be better able to provide a comprehensive product range at good quality and competitive prices; all under one roof for customers.
With growth of its business, the company says it will enhance relationships with its suppliers by working closely with them. In order to boost sales, company officials say the merger may entail some changes in the business strategies of the new entity.
METRO-Habib Cash & Carry already has a database of large, medium and small suppliers in the domains of food and non-food articles. Company officials say the company is working on a training project for local farmers that will not only eliminate middle-men, but also improve the quality of farm produce in Pakistan.
Around 56 farmers, including companies, have undergone training programmes in Pakistan under METROs sister concern Star Farm. The project has enabled farmers to develop 20 traceable food products from Pakistan, to promote Pakistani products in export markets.
Out of these 56 farmers and companies, 20 were sent to Germany, where they received training and international certifications necessary for export markets. These farmers may now export their products on their own, with the help of acquired training and certifications, a company official said.
With the core domain of its business focused on food, the company has been keen to develop and train suppliers regularly with regards to food safety and quality procedures.
The company says it believes in strengthening the local economy, and procures more than 90% of goods sold from local suppliers. The company also reaches out to local farmers and producers by providing them with customised training programmes that address gaps in knowledge and technical skills; thus helping small and medium enterprises grow in both local and international markets.
Customers who shop from METRO are required to be registered and have a company customer card. This means that METRO will not sell to private consumers. The wholesaler is not a super- or hypermarket chain targeting private consumption, but a modern form of wholesale exclusively tailored to the needs of businesses and companies.
Published in The Express Tribune, July 13th, 2012.
METRO, Makro complete merger – The Express Tribune
METRO Cash & Carry Pakistan and Makro-Habib Pakistan have announced on Thursday, the completion of their merger, after obtaining approval from shareholders and the anti-trust and corporate authorities of Pakistan.
The merged entity will now be known as METRO-Habib Cash & Carry (Private) Limited, and will operate nine wholesale centres in four major cities.
The merger is now complete with the approval of the Pakistani anti-trust and corporate authority, regulatory and other approvals and the sanction of the Court, [sic] a press release issued by the company said.
METRO Cash & Carry Pakistan (Private) Ltd and Makro-Habib Pakistan Ltd had announced their merger plans in June last year.
With the merger of our businesses, we have combined resources to gain the financial strength to lead and grow in a challenging environment, and to create synergies targeted to generate value for our customers and suppliers alike, METRO-Habib Cash & Carry (METRO) Managing Director David Boner said.
With its combined strength, the company will be better able to provide a comprehensive product range at good quality and competitive prices; all under one roof for customers.
With growth of its business, the company says it will enhance relationships with its suppliers by working closely with them. In order to boost sales, company officials say the merger may entail some changes in the business strategies of the new entity.
METRO-Habib Cash & Carry already has a database of large, medium and small suppliers in the domains of food and non-food articles. Company officials say the company is working on a training project for local farmers that will not only eliminate middle-men, but also improve the quality of farm produce in Pakistan.
Around 56 farmers, including companies, have undergone training programmes in Pakistan under METROs sister concern Star Farm. The project has enabled farmers to develop 20 traceable food products from Pakistan, to promote Pakistani products in export markets.
Out of these 56 farmers and companies, 20 were sent to Germany, where they received training and international certifications necessary for export markets. These farmers may now export their products on their own, with the help of acquired training and certifications, a company official said.
With the core domain of its business focused on food, the company has been keen to develop and train suppliers regularly with regards to food safety and quality procedures.
The company says it believes in strengthening the local economy, and procures more than 90% of goods sold from local suppliers. The company also reaches out to local farmers and producers by providing them with customised training programmes that address gaps in knowledge and technical skills; thus helping small and medium enterprises grow in both local and international markets.
Customers who shop from METRO are required to be registered and have a company customer card. This means that METRO will not sell to private consumers. The wholesaler is not a super- or hypermarket chain targeting private consumption, but a modern form of wholesale exclusively tailored to the needs of businesses and companies.
Published in The Express Tribune, July 13th, 2012.
METRO, Makro complete merger – The Express Tribune
