- Published: Monday, 05 October 2015 18:38
FIOFRO Acquires Globagroup Plc
It has been announced today that FIOFRO, the international trading entity, have acquired the controlling assets and shares of Globagroup International Plc, the acquired group is going to be restructured and absorbed into FIOFRO as a part of a massive international push for market acquisition and development.
A spokesman for the company stated, "Globagroup International Plc was the closest company we had to a competitor and it made sense for us to acquire them to bring their skill sets and our knowledge together under one unifying brand, delivery qulaity solutions into the market place through our International Distributor channels. Key to our descision was their expansion into US markets trading along side our American partners and Distributors.
The restructuring process is to take place between August and September 2014 to minimise any impact on their growing markets and should be completed by the end of September 2014, delivering one brand as FIOFRO.
This is to date the groups largest acquisition and takes the group into a new era of growth and development whilst the rest of the world worries about this so called global recession fall out.
We believe there are Three ways of dealing with a global recession; 1- Grow your way out of recession, 2- Invest your way out of recession or 3- Do nothing and watch the recession eat you alive. To FIOFRO 3 is not an option, we are investing and growing and this acquisition is an important part of that growth".