Taipei: Simple Mart Retail Co., the operator of the Simple Mart supermarket chain in Taiwan, has announced plans to acquire the OKmart convenience store chain for NT$125 million (US$3.96 million). This strategic move was approved during a board meeting on Friday, where Simple Mart decided to purchase a 100 percent stake in OKmart, along with its intellectual properties, from Holmsgreen Holdings Co. and Lai Lai Department Stores Co. According to Focus Taiwan, despite the acquisition, both Simple Mart and OKmart will continue to operate as independent brands. Simple Mart anticipates that this acquisition will enhance its service quality, improve operational performance, and expand its product and service offerings for consumers. Industry sources indicated that the acquisition would enable Simple Mart to penetrate the convenience store market and leverage the extensive logistics resources of both sectors. The sources also suggested that the acquisition would provide Simple Mart with increased bargaining power in pricing negotiations, addressing the challenges typically faced by a medium-sized supermarket chain. Currently, Simple Mart operates over 800 outlets across Taiwan, with approximately 37 percent functioning as franchises. The company aims to expand its network to 900 outlets by the end of 2026, increasing its franchise ratio to between 45 and 50 percent. In contrast, OKmart, which is estimated to have fewer than 800 stores, has been contending with strong competition from other convenience store chains. Simple Mart has stated that once the acquisition is finalized, it will proceed with the necessary reporting to competent authorities to complete the ownership transfer.