Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, it said on Wednesday, nearly 16 years after the SA retailer opened its first outlet in the country.
Ketron investment completes acquisition of Shoprite Nigeria thecable.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thecable.ng Daily Mail and Mail on Sunday newspapers.
Shoprite sells Nigerian business to local firm Ketron 02 June 2021 - 17:44 By Nqobile Dludla Since its launch in Lagos in December 2005, Shoprite has expanded to more than 25 retail stores across Nigeria, including some of the largest in West Africa. Image: REUTERS/Afolabi Sotunde/File Photo
Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, nearly 16 years after the retailer opened its first outlet in the country.
Shoprite entered into a share purchase agreement with Ketron, a Nigerian company owned by a group of institutional investors led by property group Persianas, for the disposal of its entire interest in Retail Supermarkets Nigeria Limited, the companies said.
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By Keith McLachlan
25 May 2021 00:01
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24 May 21
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House-brand products are taking a bite from the brand premiums historically enjoyed by listed food processors. Image: Dean Hutton, Bloomberg
The current debate of whether inflation is transitionary or structural has a sub-argument that references rising soft commodity prices, food inflation, and struggling consumers â and argues that food producers will be caught in the middle.
This narrative makes some sense: rising input costs cannot be fully passed onto struggling end-consumers and someone is going to have to absorb this.
But is this view correct and what does it mean for our JSE-listed food processors?