Ketron officially acquires Shoprite

The South African supermarket chain, Shoprite, has been officially acquired by Ketron Investment Limited, a Nigerian company owned by a group of institutional investors led by Persianas Investment Limited.

The company announced its purchase of Shoprite Nigeria’s assets after the approval from the Federal Competition and Consumer Protection Commission (FCCPC).

Chairman, Ketron Investment Limited, Tayo Amusan, disclosed this in a statement released on Tuesday.

“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,” Amusan said.

The company’s statement also revealed that advisers on the acquisition includes KPMG, MBO Capital Management Limited and Banwo & Ighodalo.

According to Amusan, Ketron’s vision is to “create fundamental change for the better within Nigeria.” He added that the company will bring to bear, its knowledge of the ever-evolving Nigerian retail marketplace.

The news had gone round in April that Persianas, a Nigerian property group, was set to acquire Shoprite after it won the bid to take over its operation in Nigeria.