Nigerian Firm, Ketron Acquires Africa’s Largest Food Retailer, Shoprite

A Nigerian company, Ketron Investment Limited, has acquired Shoprite Nigeria from the Retail Supermarkets Nigeria Limited (RSNL) owner and operator of the Shoprite stores in Nigeria.

Ketron Investment Limited is owned by a group of reputable institutional investors led by Persianas Investment Limited.

In a statement issued on Tuesday, Tayo Amusan, chairman, Ketron Investment Limited, said that the Federal Competition and Consumer Protection Commission had approved a change of ownership.

“We are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria,” he 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.”

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.

Shoprite, Africa’s largest food retailer, currently has 25 outlets in eight states across Nigeria since its launch in Lagos in December 2005

KanyiDaily recalls that ShopRite had last year announced that is leaving Nigeria due to challenges in disruptions and challenges in getting funds out of the country.