Independently owned and operated retailers Spar International has announced entry into Sri Lanka through a collaboration between SPAR South Africa and Ceylon Biscuits.
As a part of the collaboration, the new company, Spar Sri Lanka, will open 50 new stores in the country by 2023, with a focus on developing independent Spar retailers.
The expansion of the company into Sri Lankan retail market marks the sixth market in Asia and 48th globally.
Under the partnership, the food retailer has also launched its first Spar Supermarket in Colombo, which is established in a 1,000m² space.
Spar International managing director Tobias Wasmuht said: “We are delighted to partner with Ceylon Biscuits and to bring the Spar Brand to this dynamic market.
“The distinct global but local Spar approach will create excellent growth opportunities for Sri Lankan Spar independent retailers. The opening of the first Spar supermarket marks the beginning of a new, world-class retail experience for consumers in Sri Lanka.”
The new store offers fresh meat, a selection of fruits and vegetables, as well as the company’s own branded products sourced locally and globally and an in-store bakery.
Spar Sri Lanka CEO Wayne Hodson said: “This is a very exciting period in the ever-changing food retail environment.
“Our mission is to develop and grow local, independent retailers, supporting them through the implementation of efficient supply chain management, stock procurement, promotional and marketing support, IT and retail leadership.”