Ketron Investment Completes Takeover Of Shoprite Stores In Nigeria

A Nigerian firm, Ketron Investment Limited has completed the
acquisition of Retail Supermarkets Nigeria Limited (RSNL), owner
and operator of the Shoprite stores in Nigeria.

In a statement on Tuesday, Ketron, owned by a group of investors
led by Persianas Investment Limited, said the change in ownership
has also received the approval of Nigeria’s Federal Competition and
Consumer Protection Commission (FCCPC).

Shoprite Holdings is Africa’s largest food retailer, operating
2,843 supermarkets in 15 countries and serving 35 million customers
in Africa and the Indian Ocean Islands; its supply chain includes
over 300 local suppliers comprising small businesses and farmers
has announced its intention to sell off its investment in Nigeria
last year.

“We are thrilled to complete the acquisition of Shoprite,
ensuring the continued operations of one of the biggest retail
success stories in Nigeria,” Tayo Amusan, Chairman of Ketron, Tayo
Amusan said,

“We look forward to building an even stronger company following
our acquisition and are excited about the greater impact we will
achieve to the benefit of our customers and other stakeholders now
and well into the future,” he said.

Persianas owns the major buildings that house Shoprite outlets
in Lagos, Ilorin, among others.

Since its launch in Lagos in December 2005, Shoprite has
expanded to 25 outlets across 11 states and Abuja, FCT.

Ketron acquired 100% ownership of Shoprite in Nigeria and will
continue operations across all existing outlets, with plans to open
additional stores and introduce more Nigerian-made products, the
statement said.

“It is our vision to create fundamental change for the better
within Nigeria,” said Amusan.

Professional services firms, KPMG Advisory Services, MBO Capital
Management Limited, and Banwo & Ighodalo advised Ketron on the
deal.

Jide Ogundare, CEO, MBO Capital, in his comment, said: “With the
plans we have in place, and with the support of the larger Shoprite
family in Nigeria including our staff and every Nigerian shopper
that walks through our doors, we are confident of success.”

A Nigerian firm, Ketron Investment Limited has completed the
acquisition of Retail Supermarkets Nigeria Limited (RSNL), owner
and operator of the Shoprite stores in Nigeria.

In a statement on Tuesday, Ketron, owned by a group of investors
led by Persianas Investment Limited, said the change in ownership
has also received the approval of Nigeria’s Federal Competition and
Consumer Protection Commission (FCCPC).

Shoprite Holdings is Africa’s largest food retailer, operating
2,843 supermarkets in 15 countries and serving 35 million customers
in Africa and the Indian Ocean Islands; its supply chain includes
over 300 local suppliers comprising small businesses and farmers
has announced its intention to sell off its investment in Nigeria
last year.

“We are thrilled to complete the acquisition of Shoprite,
ensuring the continued operations of one of the biggest retail
success stories in Nigeria,” Tayo Amusan, Chairman of Ketron, Tayo
Amusan said,

“We look forward to building an even stronger company following
our acquisition and are excited about the greater impact we will
achieve to the benefit of our customers and other stakeholders now
and well into the future,” he said.

Persianas owns the major buildings that house Shoprite outlets
in Lagos, Ilorin, among others.

Since its launch in Lagos in December 2005, Shoprite has
expanded to 25 outlets across 11 states and Abuja, FCT.

Ketron acquired 100% ownership of Shoprite in Nigeria and will
continue operations across all existing outlets, with plans to open
additional stores and introduce more Nigerian-made products, the
statement said.

“It is our vision to create fundamental change for the better
within Nigeria,” said Amusan.

Professional services firms, KPMG Advisory Services, MBO Capital
Management Limited, and Banwo & Ighodalo advised Ketron on the
deal.

Jide Ogundare, CEO, MBO Capital, in his comment, said: “With the
plans we have in place, and with the support of the larger Shoprite
family in Nigeria including our staff and every Nigerian shopper
that walks through our doors, we are confident of success.”