Jamaican business mogul Gassan Azan has expanded his footsteps across the Caribbean with the acquisition of all five supermarkets of the Netherlands-based Van den Tweel Groep in Aruba, Bonaire, and Curaçao, known as the ABC islands.
The 100 per cent purchase took effect on May 1, Azan told the Jamaica Observer yesterday, pointing out that Sygnus Capital was the lead advisor for the negotiations and lead arranger for the financing of the acquisition made by his investment group Alfabet Holdings Inc.
Azan said that the stores — known as Van den Tweel Supermarkets, Ling & Sons IGA Supercenter, and Warehouse Bonaire — will not be rebranded under his successful Jamaican wholesale supermarket chain MegaMart.
“Each store has its own identity. In fact, the one in Aruba is very American as the market there is very American and our markets in Curaçao and Bonaire, where there are two stores each, are very Dutch, so they will be maintaining their identities,” Azan told the Business Observer.
Published in the Jamaica Observer
Read full article