US-based Cool Holdings has completed the acquisition of seven OneClick retail stores in the Dominican Republic through a partnership with technology major Apple for $4.3m.

The deal resulted from the exercise of an option agreement negotiated as part of the merger with Cooltech Holding closed on 12 March.

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Along with the cash consideration, the transaction also includes 625,077 shares of Cool Holdings common stock issuable to the shareholders of Cooltech during the merger.

OneClick is a certified Apple partner and authorised reseller of Apple products and other accessory brands.

Cool Holdings chief executive officer Mauricio Diaz said: “The acquisition of the Dominican Republic stores has been contemplated for some time, and we are pleased to finally complete the transaction.

“This now brings our total store count to 16, including the seven new stores in the Dominican Republic, our six stores in Argentina and three stores in Florida.

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“OneClick in the Dominican Republic has the first ever Apple Premium reseller (APR) as its flagship store in Agora Mall in Santo Domingo.”

“OneClick in the Dominican Republic has the first ever Apple Premium reseller (APR) as its flagship store in Agora Mall in Santo Domingo.”

According to Diaz, the company has remodelled Galeria 360 store in Santo Domingo and Blue Mall in Punta Cana to become the first AAR stores in the Dominican Republic.

Diaz added: “The remaining four stores (Blue Mall, Sambil and Piantini in Santo Domingo, and Santiago de los Caballeros) will be remodelled in the upcoming months. Through this acquisition, we expect to leverage our resources, expertise and management talent to grow our revenue base as we work to drive our company to profitability.”

Based in Miami, Cool Holdings currently operates various premium retail brands such as OneClick under the Apple Premier Partner (APP), APR and Apple Authorized Reseller Mono-Brand (AAR MB) programmes.