UPDATE 2-South Africa’s Shoprite sells Nigerian business to local firm Ketron. JOHANNESBURG, June 2 (Reuters) – Shoprite Holdings has sold its Nigerian business to local buyer Ketron Investment, nearly 16 years after the South African retailer opened its first outlet in the country.
Who is the current owner of Shoprite in Nigeria?
Shoprite supermarket is own by a South African billionaire named Mr Christo Wiese . The Shoprite Nigeria Supermarkets are only a subsidiary of the Shoprite Holding Ltd, the South African retail firm. The journey of Shoprite in Nigeria began in Victoria Island, Lagos.
Who owns Shoprite?
ShopRite (formerly Shop-Rite and Shop Rite) is a retailers’ cooperative of supermarkets with stores in six states: Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania.
ShopRite (United States)
|The current logo (2002–present)|
|Type||Retailers’ cooperative Subsidiary|
|Parent||Wakefern Food Corporation|
Why did Shoprite leave Nigeria?
According to the company, it has taken a decision to leave “following approaches from various potential investors” looking to invest in the Nigerian entity. The group also said the decision is in line with its “re-evaluation of the Group’s operating model in Nigeria” one of the 15 countries where it currently operates.
Which Shoprite is the biggest in Nigeria?
Coming in at number one in our list is the Shoprite in Lekki, which is also called the Novare Lekki Mall. As it stands right now, this is the largest Shoprite in Nigeria.
How much does ShopRite CEO earn?
Meet the retail bosses who earn around R70,000 a day
|Shoprite||Pieter Engelbrecht||R21.3 million|
|Dis-Chem||Ivan Saltzman||R12.8 million|
|Massmart||Guy Hayward||R12.8 million|
|Spar Group||Graham O’Connor||R11.4 million|
What is ShopRite known for?
The Group’s primary business is food retailing to consumers of all income levels. Freshmark is South Africa’s largest fruit and vegetable distributor. They distribute produce to over 440 Shoprite Group stores as well as other retail outlets.
Is Grade A market ShopRite?
About Grade A Markets Inc.
Today, four generations of Cingari’s own and operate 10 ShopRite locations in Fairfield and New Haven counties in Connecticut.
Is Shoprite pulling out of Nigeria?
On Monday, South Africa retail giant, Shoprite, announced the commencement of a formal process to discontinue its operation in Nigeria. Shoprite Holdings Limited made the announcement in its operational and voluntary trading update for the year ended June 28, 2020.
Is Shoprite still operating in Nigeria?
South Africa’s grocery retailer Shoprite is leaving Nigeria, Africa’s biggest market after 15 years of operation in the country. … The decision of Shoprite to pull out of Nigeria comes months after fellow South African company, Mr Price exited the market.
Is Shoprite leaving Nigeria 2021?
Shoprite added that the management was in the process of concluding a franchise agreement for the Shoprite brand to remain in Nigeria as well as an administration and services agreement to provide support to the new shareholders with operating the outlets. …
How old is Shoprite in Nigeria?
Since opening our first store in Lagos in December 2005, we have launched an additional 25 stores across eight states in the Federation including the Federal Capital Territory (FCT), Abuja. We employ more than 2000 people, of which 99% are Nigerian citizens.
Where is the world’s largest ShopRite?
The Kinsley’s Family Market recently reopened as the new 95,000-square-foot ShopRite in Brodheadsville, Pa.
Where is the first Shoprite in Nigeria?
ShopRite, which labels itself as African’s largest grocery store opened their first store in Nigeria at The Palms and The Hub Media Store – Nigeria’s largest media store operates on the upper floor.