According to the terms of this acquisition, Ketron acquires 100 percent ownership of Shoprite in Nigeria and will continue operations across all existing outlets.
Who Own’s Ketron Investment Limited?
Ketron Investment Limited is owned by a group of reputable institutional investors led by Persianas Investment Limited
Acquired Shoprite
Ketron Investment Limited, has acquired Shoprite Nigeria from the Retail Supermarkets Nigeria Limited, RSNL, owner and operator of the Shoprite stores in Nigeria.
According to the terms of this acquisition, Ketron acquires 100 percent ownership of Shoprite in Nigeria and will continue operations across all existing outlets.
It also plans to open additional stores and introduce more Nigerian-made products in the stores. This he noted, will also result in more opportunities for Nigerians.
Amusan explained that their vision was to create better fundamental change within Nigeria.
Franchise
The divestment by Shoprite International is in line with its strategy to change from an ownership model to a franchise model. This change in ownership has also received the approval of the Nigerian regulator, the Federal Competition and Consumer Protection Commission (FCCPC).
Speaking on the acquisition, Chairman, Ketron Investment Limited, Tayo Amusan said they are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria.
“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”.
Since its launch in Lagos in December 2005, Shoprite has expanded to 25 outlets across 11 states and Abuja, FCT.
Ketron has said that Shoprite International will continue as technical advisers and Ketron will sustain the relationships established by Shoprite over the last decade and a half while ensuring a smooth “transfer of values