Softlogic Retail Holdings (Pvt) Ltd in a stock market filing has stated that it has acquired a 100% stake in Footwear Retailer Ltd, formerly known as Bata Shoe Company of Ceylon Limited. The total value of the transaction is Rs. 293 million.
The company which has a history dating back to 1950, has its factory in Ratmalana and an all island retail network with 150 employees. Today it has a wide network of retail and department stores and a product portfolio of more than 20 brands and labels, which include Bata, North Star, Power, Bubblegummers, Weinbrenner, Sandak, Ambassador brand names.
Softlogic plans to “revive and re-position ‘Bata’” to make it the number one footwear brand in Sri Lanka.