O&L Group announces sale of shareholding of its restaurant portfolio

THE Ohlthaver & List (O&L) Group of Companies on Monday announced the sale of its shareholding in its restaurant portfolio, Kilimanjaro Trading, to Ondero Investment, effective 1 February 2012.

In a press release, Sven Thieme, Executive Chairman of the O&L Group, said that in line with the group’s purpose statement of “Creating a future, enhancing life,” O&L takes a holistic view regarding business within the group as well as business in general in Namibia, and are always on the look-out for business opportunities that allow for growth within the Namibian market.

“The restaurant group was formed when there was no interest in these franchises and we are proud that we created this group to give Namibians a further experience in hospitality and creating further jobs. Equally we are proud to now pass on our business to fellow Namibians to grow it even further,” said Thieme.

“We were approached by Ondero Investment – a local specialist business with vast experience in the franchise environment – to purchase our restaurant portfolio. In order to allow for a seamless transfer of ownership, we have agreed to sell our shareholding in Kilimanjaro Trading to Ondero Investment. We acknowledge the possibility of the brands growing within Namibia and the additional opportunities this will present to existing employees of Kilimanjaro – who will retain their employment under the new ownership,” continued Thieme.

Thieme expressed his confidence that Kilimanjaro Trading – under the new ownership of Ondero Investment – will continue to build on the achievements of the O&L Group and will soon be the leading player in the restaurant industry.

Manfred Zamuee, Chairman of Ondero Investment, said he is very excited with the acquisition as it sets the tone for the aggressive growth strategy of the business. “We are first and foremost driven by customer satisfaction and our values empower and facilitate self-growth for all employees,” he said. With a support structure that has over 20 years of experience in the franchise environment, Ondero Investments have both short and long term goals to ensure the above materializes.