Mizzi Organisation agrees to sell Arkadia supermarket business<\/p>\n
Mizzi Organisation has reached an agreement to sell its Arkadia supermarket business to a third-party buyer, marking a significant move in the group’s ongoing strategy to streamline its operations and focus on its core business activities.<\/p>\n
The announcement was made on Tuesday by Mizzi Organisation Finance plc in a company announcement issued to the market.<\/p>\n
The transaction involves Arkadia Foodstores Ltd, a subsidiary of Mizzi Organisation Ltd, which operates a number of Arkadia Foodstores outlets across Malta and Gozo.<\/p>\n
The company said the sale remains subject to a number of conditions that must be satisfied before the transaction can be completed. It did not disclose the identity of the prospective buyer or the financial value of the deal.<\/p>\n
According to the announcement, the disposal is in line with Mizzi Organisation’s strategic objective of concentrating its resources on selected business segments with the aim of strengthening the group’s long-term value.<\/p>\n
The announcement was issued through Mizzi Organisation Finance plc because Mizzi Organisation Ltd is one of the guarantors of the group’s €45 million 3.65% unsecured bond issue maturing between 2028 and 2031. As a result, the group is required to inform bondholders and the market of developments that may be considered material.<\/p>\n
The company said it will provide further updates should there be any significant developments relating to the transaction.<\/p>\n
Arkadia is one of Malta’s established supermarket brands, with outlets in both Malta and Gozo, and has been part of the Mizzi Organisation’s retail portfolio for several years.<\/p>\n