Dec 18, 2017 Last Updated 11:51 AM, Dec 14, 2017

Spar acquires Londis for $25.7m

ABN – Ireland-based convenience store chain ADM Londis has been acquired by Spar for US$25.7 million.

Londis has around 200 stores located throughout Ireland and generates total annual sales of almost $224 million.

The completion of the acquisition is subject to Londis’ shareholder approval as well as other regulatory approvals.

Spar has continued to expand throughout South Africa despite rising unemployment.

Last year it added 11 new Built It, a division of Spar group, stores to its chain bringing its total store number up to 299.

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Nestle to invest $137m in Egypt

ABN – Swiss food group Nestle (SIX: NESN; Euronext: NESTS) has announced plans to invest US$137 million into Egypt over the next couple of years.

Company CEO for North East Africa Suresh Narayanan made the announcement on Tuesday.

He said: “Certainly the kind of investments we have made over the last three to four years are the kind of vision that we would have for this market also going forward.”

Nestle believes that the economic changes in the North African country has the potential to deliver the goods.

Narayanan added that the company will focus on manufacturing, new products and the nutrition and health industries in the country.

Image credit: news.com

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Castle Lager expands FC Barcelona deal

ABN – South African brewer Castle Lager has expanded its agreement with FC Barcelona.

Castle Lager is the official beer of the Spanish football giants and it will now people able to market this relationship in more countries in Africa.

Nigeria and Kenya are the two new marketing opportunities listed in the new deal and they are among the leading markets for alcoholic beverages in Africa.

Laurent Colette, FC Barcelona’s chief commercial officer, said: “Africa is becoming a very important player in the world of football, with millions of fans following the best players around the world, and also thanks to the continent’s fabulous talent.

“Through our association with Castle, we are getting closer to Africa and providing more communication platforms between FC Barcelona and African fans.”

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