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Browsing: supermarkets in Kenya
Adenia Partners, a private equity firm investing in Sub-Saharan Africa, and headquartered in Mauritius has been making inroads into the supermarket sector in Kenya through strategic buy-outs in the last one year.
Last month, Adenia Partners announced that it completed a majority investment in Quick Mart Limited, a major supermarket chain, operating a chain of 11 supermarkets in Kenya with 9 stores located in neighbourhood estates in Nairobi, and another 2 stores in the town of Nakuru. The transaction has been structured through Adenia Capital (IV), a EURO230mn fund.
Immediately, the buy-out managers announced that they will use the funds to expand to new locations as well as merging it with another upcoming store, Tumaini Self Service Limited which runs a supermarket by the same name.
The PE announced in December 2018, that it had completed an investment in Tumaini Self Service Limited through a special purpose vehicle, Sokoni Retail …