MBO Capital Management Ltd alongside co-investors have completed the acquisition of Shoprite’s Operations in Nigeria

MBO Capital Management Ltd alongside co-investors led by Persianas Investment Ltd, through their investment vehicle, Ketron Investment Limited, have completed the acquisition of the local operations of Africa’s retail giant, Shoprite. The transaction closed on Monday, May 31, 2021.

The Nigerian operations will now operate under a franchise agreement and the new owners are excited about the opportunities to grow the brand in Nigeria both geographically and in terms of the product offerings.

KPMG Advisory Services and MBO Capital Management Ltd served as financial advisers to Ketron and Banwo & Ighodalo acted as legal adviser.