CRESCO Holding Announced the Acquisition of OfficeRock, One of UAE’s Top E-Commerce Websites

United Arab Emirates, Dubai 14 April 2020. CRESCO Holding inked a new acquisition agreement with OfficeRock under the trade name of Lionsrock General Trading company, an e-commerce business for office stationeries and equipment in UAE. The purchase will position BINCRES’ procurement solution in the market, a supply chain management business under CRESCO Holding. BINCRES will build and expand OfficeRock’s operation continuing its development of forward-thinking approaches to procurement. They will be instrumental as rating time-to-value and saving money for companies of all sizes.

OfficeRock has been in the market for nine years, offering customers a full range online catalogue of modern office supplies and equipment. Part of the services they provide is the seamless buying experience right from filling the online cart and have the items delivered to customers’ doorstep.  It houses a massive 6000 square foot warehouse facility to receive, stock, pack and ship all office stationery and pantry supplies.

“Procurement is a critical and central part of the supply chain.  We evaluate our vendors continuously and enforce the highest compliance and quality standards in order to ensure that the products and services we provide meet and exceed client requirements, said Kivanc Arkac, OfficeRock’s Managing Director. Meanwhile, Michael Waechter, CRESCO Holding’s Managing Director states, that “Our acquisition of OfficeRock will also add value to our goal for BINCRES in establishing a strong foothold in both e-commerce and logistic solutions in the Middle East and Asia. It’s filling two needs with one deed.”

Lionsrock General Trading began trading in office supplies focusing on hotels, hospitals and banks. In 2012 the company formed a partnership with various companies such as Xerox Emirates, National Stationery, some known brands like Walmart stationery products and GPI Taiwan. A year after, the company began developing its own e-commerce platform which is now the OfficeRock and received investment from Jabbar Internet Group whose founders have built some of the leading internet companies in the Middle East such as Maktoob.comSouq.comCashU, etc.

BINCRES and OfficeRock visualize a two procurement companies complementing each other in delivering a mission of seamless customer experience through increased efficiencies that drives business impact.

About CRESCO Holding

Established in 2010, CRESCO Holding is a privately held Seychelles based holding company, with offices in Dubai, UAE and the Philippines. With the aim of providing the right tools and solutions to various companies working efficiently and effectively whilst offering a selective investment portfolio in accounting, legal and compliance, corporate services, business expansion, IT and procurement solution across MENA region, Asia and Latin America.

The company’s goal focuses on building a home for companies working in different industries complementing each other and realising synergies through a strong cooperation under one portfolio. The holding makes the most out of the dynamic market environment by applying its accumulated expertise, resources and management know-how to different sectors that show promise. Majority of its clientele are from mid to large-sized companies with innovative management and strong organizational values.

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