Business / Companies
OK (stores) acquires former Massmart assets
02 Apr 2011 at 13:26hrs | Views
OK Zimbabwe, said this week that it has concluded a transaction to acquire the two Makro operations in Harare and Bulawayo.
OK chief executive Willard Zireva said ownership of Makro's operations was assumed at the end of February 2011 and a new brand store opens following a re-branding campaign.
"OK has also assumed the employment of over two hundred employees which enables us to retain key skills in the business and ensure job security for others," said a statement.
The re-branded Makro Stores are now called OK Mart and have at least 20 departments including sport, outdoor and camping, hi-tech, butchery, clothes and textiles, do-it-yourself, stationery and general groceries.
Zireva said re-branding work being undertaken at the former Makro stores was an additional project to the refurbishment work already being undertaken in various OK outlets.
The refurbishments are a continuation of the work started in 2010 where the company rebuilt OK Masvingo which had been gutted by fire in 2007, refurbished OK Kwekwe in November 2010 and rebranded OK Second Street Extension to Bon Marche Belgravia in December last year.
The company plans to have three more outlets facelifts by the end of the first quarter of its financial year 2012 at the end of June.
These are OK Avonlea, OK Queensdale and OK Chiredzi. Later in the year, OK Marimba will also be refurbished.
OK chief executive Willard Zireva said ownership of Makro's operations was assumed at the end of February 2011 and a new brand store opens following a re-branding campaign.
"OK has also assumed the employment of over two hundred employees which enables us to retain key skills in the business and ensure job security for others," said a statement.
The re-branded Makro Stores are now called OK Mart and have at least 20 departments including sport, outdoor and camping, hi-tech, butchery, clothes and textiles, do-it-yourself, stationery and general groceries.
Zireva said re-branding work being undertaken at the former Makro stores was an additional project to the refurbishment work already being undertaken in various OK outlets.
The refurbishments are a continuation of the work started in 2010 where the company rebuilt OK Masvingo which had been gutted by fire in 2007, refurbished OK Kwekwe in November 2010 and rebranded OK Second Street Extension to Bon Marche Belgravia in December last year.
The company plans to have three more outlets facelifts by the end of the first quarter of its financial year 2012 at the end of June.
These are OK Avonlea, OK Queensdale and OK Chiredzi. Later in the year, OK Marimba will also be refurbished.
Source - Byo24News
