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SHARJAH / WAM
The UAE-based, Fares Foundation for General Trading, which specialises in logistics and distribution through land, air and sea, has acquired 50 percent shares of Tawseel Delivery Services, a Sharjah-based food delivery service.
As per the acquisition agreement signed by the two parties, Fares will increase the number of its fleet of delivery vehicles, enabling Tawseel to provide faster services to customers and expand to new markets in the UAE and the region.
Mohamed Al Musharakh, Founder and CEO of Tawseel, commented, “I would like to thank the Sharjah Entrepreneurship Centre (Sheraa), which played a vital role in the establishment and success of Tawseel as well as many other start-ups and SMEs in Sharjah. Sheraa’s role is fundamental to fostering entrepreneurship am-ong young investors in Sharjah, and to providing them with the knowledge and expertise to run their businesses successfully.
“Acquisitions are among of the most significant processes that enhance business development, with companies merging their experiences and expertise to deliver quality services and products to their clients.