SPAR International expands with Lankan entry

Tuesday, 17 April 2018 00:54 - - {{hitsCtrl.values.hits}}

JV, with Ceylon Biscuits, plans 50 stores by 2023

SPAR International continues to expand its presence globally, this time announcing its entry into the Sri Lankan retail market. With this move, SPAR will be present in 48 countries globally and six countries across Asia.

The company has set up a joint venture called SPAR Sri Lanka Ltd. via a partnership between SPAR South Africa and Ceylon Biscuits Ltd. The venture will look to open 50 new SPAR stores in Sri Lanka by 2023, primarily by developing independent SPAR retailers.

The first SPAR store in the country has opened in Colombo, a 1000 sq. m. SPAR neighbourhood supermarket that emphasises on fresh foods, including meat, and an in-store bakery. It also offers an extensive range of exclusive SPAR own brand products sourced both internationally and locally.

SPAR International Managing Director Tobias Wasmuht said: “We are delighted to partner with Ceylon Biscuits Ltd. and to bring the SPAR Brand to this dynamic market. The distinct global but local SPAR approach will create excellent growth opportunities for Sri Lankan SPAR independent retailers.”

SPAR Sri Lanka CEO Wayne Hodson added: “This is a very exciting period in the ever-changing food retail environment. Our mission is to develop and grow local, independent retailers, supporting them through the implementation of efficient supply chain management, stock procurement, promotional and marketing support, IT and retail leadership.”