Daily News Egypt

Ezdehar acquires 60% of Zahran Market - Daily News Egypt

Advertising Area




Advertising Area

Ezdehar acquires 60% of Zahran Market

Beltone served as the broker of the EGP 273m-deal


Ezdehar Private Equity Fund acquired a 60% stake in the Zahran Market Chain on Monday, with the Egyptian Exchange witnessing the implementation of an OTC deal on Zahran Market shares worth EGP 273m that Beltone Securities brokered.

Zahran Market was established in 1987 in Alexandria and was the first to open supermarket branches in the North Coast. Currently, Zahran Market has 16 branches in seven different governorates across the country.

In 2016, Karim Zahran and Omar Zahran — the second generation of the family — developed a transformational programme and began expanding the company, which included the opening of eight new branches in the Delta region. They also changed the brand, renovating the existing branches and developed a strategic partnership plan.

Moreover, the company is now looking forward to implementing an expansion plan that will increase its footprint in every region in which it operates, in addition to its endeavour to explore new areas in Egypt.

Co-CEO of Compass Capital Tarek Abdel Rahman said that the completion of the transaction will support Zahran Market to expand its activities at a steady pace in the long term, noting that this is Compass Capital’s fifth transaction in terms of mergers and acquisitions in less than two years.

For his part, CEO of Zahran Market Karim Zahran said: “This is a turning point in the journey of Zahran Market, and we are excited today to partner with Ezdehar to continue our vision of developing Zahran Market as a leading brand in all of Egypt.”

He added that this partnership expresses Ezdehar’s confidence in the company’s performance over the last period, as well as the common vision for the company’s continuous development.

Compass Capital acted as the financial adviser to the shareholders of Zahran Market LLC, while Matouk Bassiouni and Hennawi provided legal advice. On the other side, Adsiro Raji Soliman & Co. provided legal advice to Ezdehar, while P.W.C acted as the financial adviser.

Advertising Area

https://dailynewsegypt.com/2022/08/24/ezdehar-acquires-60-of-zahran-market/
Breaking News

No current breaking news