Tayo Amusan completes the acquisition of Shoprite operations in Nigeria

Business mogul Tayo Amusan, using Ketron Investment Limited, as vehicle has completed the acquisition of Shoprite operations in Nigeria.

Ketron is a subsidiary of Persianas Investment Limited, a property firm and developer of the popular The Palms, owned by the businessman.

In a statement issued on Tuesday, Amusan, chairman, Ketron Investment Limited, said that the Federal Competition and Consumer Protection Commission had approved the change of ownership.

“We are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria,” he said.

“We look forward to building an even stronger company following our acquisition and are excited about the greater impact we will achieve to the benefit of our customers and other stakeholders now and well into the future.”

The Palms shopping mall, Persianas’ flagship mall, houses a Shoprite store in Lagos.

Shoprite has more than 25 retail stores across Nigeria, including some of the largest in West Africa.

Persianas and Shoprite declined to comment on the deal.

Persianas, which is chaired by Amusan, with his wife, Ayo as CEO, came into being in 1990, according to information on its website.