Wednesday January 16, 2019

Sri Lanka Softlogic puts brands under ODEL

Mar 25, 2015 06:47 AM GMT+0530 | 1 Comment(s)

COLOMBO (EconomyNext) – Sri Lanka's ODEL Plc, which is controlled by Softlogic Plc, said it was buying the group's branded retailing unit for 599.9 million rupees in a move to integrate their retail assets.
ODEL Plc had bought 99.99 percent of Softlogic Brand (Pvt) Ltd, from Softlogic Retail (Pvt) Ltd and Dai-Nishi Securities (Pvt) Ltd.

The firm said Softlogic Brands had 41,000 square feet of prime retail space in Colombo and a portfolio of 20 brands.

The acquisition was made with the aim of "unlocking the post-acquisition synergies" between Odel and Softlogic group.

Odel will also settle 1.1 billion rupees due to Soflogic Retail by Softlogic Brands on or before 31st March 2015, the statement said.




  1. Sceptic March 25, 07:51 AM

    Wonder on what basis valuation of Softlogic Brands was done. Softlogic Brands does not own any of the brands it markets, so valuation multiples should be lower than that of a brand owner, and store footfall does not appear that impressive.

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