Online grocery delivery Knock Mart acquires Dina Farms

Cairo – Mubasher: Cairo-based online supermarket Knock Mart has completed the full acquisition of Qalaa Holdings’ Arabian Company for Services and Trade, the owner company of the pioneer supermarket chain Dina Farms.

The transaction does not include Dina Farm’s main business of dairy production, chairman of Knock Mart Ahmed Taher told Enterprise Press.

Taher has not revealed the value of the deal, pointing out that the online grocery delivery firm had paid for the sale in cash.

By acquiring the 17 stores of Dina Farms, Knock Mart will be operating 20 retail stores, including its online sales, he noted.

Knock Mart seeks to expand in the trade and retail sales sector and aims to raise the number of its branches to 100.

In October 2017, Knock Mart had submitted an offer to acquire Dina Farms. Pharos Holding implemented the transaction, while Haykala Investment Managers and Matouk Bassiouny acted as the legal advisors.