Largest African Food Retailer Sells Its Nigerian Operations
- Shoprite to retain presence through a franchise model
- Ketron to add to the 25 stores it’s acquiring from Shoprite
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Shoprite Holdings Ltd., Africa’s largest food retailer, has sold its Nigerian operations to local investors 16 years after it opened its first outlet in the continent’s most populous country.
The company sold its stake to Ketron Investment Ltd., a Nigerian company owned by a group of local investors led by property firm Persianas Investment Ltd., Ketron said in an emailed statement.