Yoma Strategic Holdings has formed a strategic partnership with German wholesale distribution firm Metro Group, in a move set to shake up Myanmar’s patchwork food and goods distribution landscape.
Yoma on Friday informed the Singapore Stock Exchange it would take a 15 percent stake in the venture, with Metro to take the remaining interest.
The partnership will establish a distribution platform targeting hotels, food and beverage businesses, independent retailers and commercial offices.
“We are convinced that Metro’s proven expertise in areas such as food safety and supply chain management will strongly contribute to the development and upgrade of the local supply and distribution infrastructure,” Metro chairman Mr Olaf Koch said in a Friday media release.
Already a significant player in the food and beverage distribution industry, Yoma has a 30 percent stake in Access Myanmar Distribution Co., makers of High Class whiskey, and a 50-50 joint venture partnership in logistics firm KOSPA Ltd. with Japan’s Kobuku Group Corp.
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Yoma has in recent years sought to spin off business units in order to focus on core real estate, consumer goods and automotive divisions.
It sold a 12.5 percent stake in its telecommunications tower firm, edotco, in the third quarter of 2016. In October, Yoma revealed plans to sell its tourism enterprises to Singapore investment firm SHC Capital Asia Ltd.
