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Choppies acquires Kenyan retail outlets from Ukwala

Image Credit: Sunday Standard

Choppies, the Botswanan food retailer, has reached a conditional agreement to acquire 10 outlets from Ukwala Supermarkets in Kenya for approximately $9.5 million.  While not a huge deal, it is indicative of the company’s intent to use acquisition as part of its strategy to have 200 stores in six African countires by the end of 2016. The firm recently listed on the Johannesburg Stock Exchange, but still count Standard Chartered Private Equity among its significant backers.

Read more at Business Day…

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