O & L group disposes restaurant portfolio
The Ohlthaver & List Group of companies has sold its shareholding in restaurant portfolio, Kilimanjaro Trading, to Ondero Investment, for an undisclosed amount. The deal is effective 1 February 2012.
Announcing the sale of the restaurant portfolio, which include business franchises Ocean Basket, Mugg ‘n Bean and Milky Lane, Sven Thieme, executive chairman of the O&L group said: “The restaurant group was formed when there was no interest in these franchises and we are proud that we created this group to give Namibians a further experience in hospitality and creating further jobs. Equally we are proud to now pass on our business to fellow Namibians to grow it even further.”
Thieme assured workers that no jobs would be lost following the sale of the franchise business to Ondero. He said: “We acknowledge the possibility of the brands growing within Namibia and the additional opportunities this will present to existing employees of Kilimanjaro – who will retain their employment under the new ownership.”
The O & L group chairman expressed his confidence that Kilimanjaro Trading – under the new ownership – will continue to build on the achievements of his group and will soon be the leading player in the restaurant industry.
Meanwhile, Manfred Zamuee, chairman of Ondero Investment, said that he is excited with the acquisition as it sets the tone for the aggressive growth strategy of the business.
“We are first and foremost driven by customer satisfaction and our values empower and facilitate self-growth for all employees. With a support structure that has over 20 years of experience in the franchise environment, Ondero Investments have both short and long term goals to ensure the above materialises.”
Although little is known about Ondero locally, the group was established in 2006. The shareholders of Ondero Investments entered the lucrative franchised environment in 2006 with the acquisition of the largest BP service centre in Namibia and in 2009 acquired the Panarottis franchise for Namibia followed by further restaurant developments in South Africa.
Ondero Investment owns and operates the largest turn-over restaurants in the Panarottis brand in Southern Africa. In 2011, Ondero Investment acquired the Ster Kinekor interests in Namibia.