Yoma Strategic Holdings has partnered with the German wholesale and retail giant METRO to create a wholesale distribution platform in Burma, the company announced on Feb. 24.
Yoma will hold a 15 percent stake in a new entity titled METRO Wholesale Myanmar, while the remaining 85 percent will be held by the German multinational, which operates in 35 countries and achieved sales of around US$37 billion in 2015-6.
“METRO Myanmar will leverage on METRO’s procurement capabilities and Yoma Strategic’s existing logistics, warehousing and fleet leasing businesses to fast track its growth,” according to a Yoma statement.
Yoma Strategic’s chief executive officer Melvyn Pun said: “We are confident that our partnership with METRO will bring global know-how in modern wholesale distribution and contribute to bringing reliable and safe food to the people of Myanmar.”
Currently local businesses in Burma have to source products through a complex mix of suppliers and importers.
Under the new venture more than 3,300 food and non-food items will be offered to customers like small retailers, offices, restaurants and hotels through a one-stop shop wholesale distribution system, according to the statement.