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Yoma forms JV with Germany's Metro Group to build food distribution platform
YOMA Strategic Holdings is forming a joint venture (JV) with Germany's Metro Group Wholesale and Food Specialist Company to build a one-stop food distribution platform in Myanmar.
The JV, Metro Wholesale Myanmar Ltd, will offer more than 3,300 food and non-food items to hotel and restaurant operators, catering firms, independent small retailers, institutions and offices. It plans to allow customers to order online through the phone or table catalogues.
Yoma will hold 15 per cent of the JV, while Metro Group will own the balance. Metro Myanmar will tap Metro's procurement capabilities and Yoma's existing logistics, warehousing and fleet leasing businesses to fast-track its growth.
Yoma's CEO Melvyn Pun said the group is confident its partnership with Metro will bring global know-how in modern wholesale distribution, and contribute to bringing reliable and safe food to Myanmar.
The food distribution industry in Myanmar is fragmented, and retailers often source their products through a complex mix of retail and wholesale local distributors and importers, according to Yoma.
Metro is an international specialist in wholesale and food retail. Together with its other sales lines such as the Real hypermarkets and Metro Cash and Carry, it achieved sales of 37 billion euros (S$55 billion) in 2015/2016, and operates in 35 countries with more than 150,000 employees around the world.