Choppies acquires 10 Kenyan retail stores

Tuesday, June 02, 2015

Leading grocery group, Choppies Enterprises said it would buy 10 stores in Kenya for $10 million (P99.4 million) as part of its expansion plans into east Africa.

Group chief executive officer, Ram Ottapathu confirmed that the retailer has partnered with a Kenyan company by the name Shanta Retail holdings Limited backed by the directors of Export Trading Group (ETG).

“Shanta Retail will be 25 percent shareholders in Choppies Kenya and Tanzania and they will contribute 25 percent equity and debt proportionately,” he said.

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Choppies acquires 10 Kenyan retail stores

Leading grocery group, Choppies Enterprises said it would buy 10 stores in Kenya for $10 million (P99.4 million) as part of its expansion plans into east Africa.