Ketron Investment Limited acquires Shoprite Nigeria
A deal has been reached on the acquisition of Retail Supermarkets Nigeria Limited (RSNL), owner and operator of the Shoprite stores in Nigeria, by Ketron Investment Limited, a Nigerian company owned by a group of institutional investors led by Persianas Investment Limited.
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, the company is 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”.
SOURCE: THE SUN