Pursuits
Pick n Pay Plans Nigeria Entry to Extend Africa Retail Reach
- South African chain to partner with Nigeria's AG Leventis
- Full year sales advanced 8.2% after opening 175 new stores
This article is for subscribers only.
Pick n Pay Stores Ltd. announced plans to enter Nigeria through a partnership with a local company as the South African retailer extends its reach on the continent following a 26 percent rise in full-year earnings.
The supermarket and clothing chain has agreed to partner with Lagos-based AG Leventis & Co. to enter Africa’s largest economy, it said in a statement on Tuesday. Leventis has experience dealing with on-the-ground challenges in Nigeria such as transportation, getting products into stores, and property, Pick n Pay said.