BO! holding, a group of companies focusing on real estate, investment and development activities, has agreed with Martin Zaremba, the owner of Sting Real Estate Agency and Sting Finance, to purchase 100% of RK Sting and Sting Finance shares. This will create one of the largest real estate agencies in the Czech market. The price of the transaction was not disclosed.
According to HN.cz, the transaction will create the third-largest real estate agency in the Czech market that does not operate a franchise network. It will join the strong duo of M&M Reality and Broker Consulting. Other well-known brands such as Re/Max or Century 21 are built on contracts with franchisees, the Daily writes.
The founder of RK Sting, Martin Zaremba, remains the owner of the "Sting" trademark and will continue to focus on his role as an investor in real estate, development, finance, property management, hotel business and charity projects. BO! Holding will obtain a long-term license to use the trademark " Sting" to provide real estate and finance services. The BO! real estate and finance, RK Sting and Sting Finance brands will thus be preserved and will operate in parallel on the market. Martin Zaremba has decided to put all the proceeds from using the trademark "Sting" into the Sting Charitable Foundation to support beneficial projects.
"20 years ago, when I started my professional career at Sting Real Estate as a real estate agent. Now I am returning as a co-owner with a main goal: the renaissance of the Sting brand," said Michal Pitucha, Chairman of the Board of Directors of BO! Holding.
Martin Zaremba, owner of the Sting real estate and investment group, adds: "After more than a quarter of a century in the real estate and financial intermediation industry, I felt the need to give the Sting business network a new impulse. I am delighted to put it in the hands of an experienced team that also has a relationship with our company. Continuity and the possibility of further development of the Sting network were key for me in finding the best solution for the future of the network."
