Softlogic Holdings PLC announced that its fully owned subsidiary Softlogic Retail Holdings (Private) Ltd has entered into a sale and purchase agreement for the acquisition of 100% stake in Agora Limited of Bangladesh, a retail superstore that operates a chain of hypermarkets, discount department stores and grocery stores headquartered in Dhaka.

Softlogic PLC announced in a filing to the Colombo Stock Exchange said that the acquisition will take place via a series of transactions subject to terms and conditions set out in the agreement and receipt of regulatory approval.

Softlogic Retail Holdings (Private) Ltd drives the dynamic and aggressive retail sector of the Softlogic Group encompassing synergies from its multi-brand and multi-channel strategy focused on enhancing the retail landscape in Sri Lanka.

Its operations include branded apparel, consumer electronics, mobile handset retails and distribution, supermarkets and quick service restaurants.