Chinese company to acquire A1 bakery for $5M

Chinese company to acquire A1 bakery for $5M

Ghana’s popular bread making company, A1 Bakery, producers of A1 bread, is reportedly set to be sold to a Chinese company.

According to reports, the Chinese company is already in talks with the management of A1 Bakery and will pay a whopping $5 million for the takeover.

Ghanaweb reports that negotiations are fast advanced and the deal should be completed in the coming weeks.

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Meanwhile, the owner of A1 Bakery, Godfred Obeng Boateng and his partner, Edward Nana Poku (Hammer) have both refused to either confirm or deny the report.

A1 Bakeries began its operations a year ago, but has grown to become one of Ghana’s leading bread makers.

Currently, the indigenous company has many branches in Accra and Kumasi and has given employment to many of the youth.

It is estimated that the company has about six hundred employees working at its warehouses and factories.

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Source: Yen.com.gh

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