Kenya, Feb. 26 -- CFAO Group is a French company mostly owned by Toyota. They recently announced that they plan to buy 69% of Goodlife Pharmacy. This is part of their plan to grow their business in East Africa.
This purchase is a big move for CFAO, as they want to increase their presence in the healthcare and retail markets in the region.
Goodlife Pharmacy is a well-known chain in East Africa that plays an important role in the local pharmaceutical market.
By acquiring Goodlife, CFAO expects to improve its business operations and use Goodlife's established network to provide better distribution and services in Kenya and nearby countries.
CFAO Group works in various sectors, including automotive, healthcare, and consumer goods, and has been increasing its investments in Africa.
This acquisition fits with their goal of meeting the growing demand for quality healthcare products and services on the continent.
Details about the financial aspects of the deal are not yet available. The agreement still needs approval from local regulators and is expected to be completed in the next few months, as long as it meets the requirements of competition authorities.
This move shows that CFAO is serious about expanding its influence in East Africa, which is seen as a promising area for companies looking for long-term growth.
Published by HT Digital Content Services with permission from Bana Kenya.