Ketron Investment Limited, an investment company owned by Lagos businessman Tayo Amusan has announced the acquisition of Retail Supermarkets Nigeria Limited, which operates a chain of Shoprite stores across Nigeria.

Ketron is promoted by Mr Amusan’s Persianas Investments, which also owns the Palms Mall in Lagos, where Shoprite is an anchor tenant and launched its first Nigerian store.

The divestment by Shoprite International is in line with its strategy to change from an ownership model to a franchise model.

Ketron says that the Federal Competition and Consumer Protection Commission has approved the transaction. The company says 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.”

Speaking on the acquisition, Chairman, Ketron Investment Limited, Tayo Amusan, said: “We 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 eight states and Abuja in the federal capital territory.

According to the terms of this acquisition, Ketron will 100 per cent ownership of Shoprite in Nigeria and will continue the brand’s operations across all existing outlets.

Ketron said it also plans to open additional stores and introduce more local products across its stores.

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

“With benefits from our knowledge of the ever-evolving Nigerian retail marketplace, well-grounded social and economic research, and hands-on experience from our team, we are confident that this acquisition will foster a robust and sustainable business model for the ultimate benefit of all stakeholders.”

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

https://www.lagostimes.com/2021/06/01/ketron-investment-limited-acquires-shoprite-nigeria/