In making the announcement, Enhance has confirmed that Fairtrade will continue to operate as an independent legal entity with its own Board of Directors. Mr. Imad Kamal Sultan, Chairman of Fairtrade LLC and Director of W J Towell & Co. LLC thanked Mr. Murtadha and Mr. Faisal for their extensive support in assisting the timely completion of the transfer of shares. “We look forward to supporting the future growth of Fairtrade. We believe that with the strong portfolio of brands that have been acquired under the previous ownership, the investment in logistics, IT systems and across other areas that the Company is committed to make, combined with a refocused set of management priorities will enable Fairtrade achieve the level of success it has enjoyed in previous years”.
Mr. Faisal Al Lawati welcomed Enhance stating “I have every confidence that with their experience in this market and knowledge of the business that Enhance will help strengthen Fairtrade and provide good opportunities for the growth of our Omani and expatriate employees”.
“We welcome this opportunity to bring a degree of consolidation to the market. We thank Mr. Murtadha, Mr. Faisal and our professional advisors Ernst & Young who with Trowers and Hamlins have helped us successfully structure and complete this acquisition. As part of the Due Diligence process we have met with all of Fairtrade’s leading suppliers and been impressed by their desire and determination to contribute to Fairtrade’s future success” commented Mr. Dominic Myers, CEO, Enhance Operating Companies.
It was announced that Mr. Anil Menon will be the new General Manager for Fairtrade, who commenting on his appointment stressed the importance of bringing quality to all aspects of Fairtrade’s activities. “I am committed to establishing excellence throughout Fairtrade’s operations, assisting its employees deliver their full potential and contributing to the successful growth of all our business partners and customers in Oman. This is an exciting opportunity that has many challenges but with the support of Enhance and my colleagues in Fairtrade I am confident we will soon be winning more regional and international awards.”