Ketron Investment Limited, a subsidiary of Persianas Investment Limited, has acquired Shoprite Nigeria from the Retail Supermarkets Nigeria Limited (RSNL) following several months of negotiations after the Shoprite International had indicated its plan to divest from the retails company.
The divestment by Shoprite International, which had secured the approval of the Federal Competition and Consumer Protection Commission (FCCPC), aligns with the company’s strategy to change from an ownership model to a franchise model.
Speaking on the acquisition, Chairman, Ketron Investment Limited, Tayo Amusan said his team was thrilled to complete the acquisition of the leading retail stores and assured the new owners readiness to sustain its operations asof one of the biggest retail success stories in the country.
He assured: “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.”
According to the terms of this acquisition, Ketron acquires 100 percent ownership of Shoprite in Nigeria and will continue its operations across all existing outlets nationwide.
The new investors also hinted of plans to open more Shoprite stores and introduce more Nigerian-made products in them as part of their transformational agenda for the entity.
While noting that opening more outlets will also result in more job and other opportunities for Nigerians, Amusan explained that the new owners’ vision was to create better fundamental changes of the Shoprite brand in Nigeria.
He said with benefits from their knowledge of the Nigerian rapidly-growing retail market space, sound social and economic research skills, and hands-on experience of the team, the new owners remain confident that the acquisition would “foster a robust and sustainable business model for the ultimate benefit of all stakeholders.”
After it opened its first shopping mall in Lagos in December 2005, Shoprite has since expanded to 25 outlets across 11 states and the Federal Capital Territory (FCT).