Naivas Supermarket, often referred to simply as "Naivas", is the largest supermarket chain in Kenya, with 84 outlets as of June 2022. A that time, Naivas was the largest supermarket chain in Kenya, ahead of Quick Mart Limited with 51 outlets in the country.[1]
The company headquarters, as well as the company's warehouses, are located in Sameer Business Park, in the Industrial Area of Nairobi, the capital and largest city of Kenya.[2] The coordinates of the headquarters of Naivas Limited are: 01°19'36.0"S, 36°52'04.0"E (Latitude:-1.326667; Longitude:36.867779).[3]
Overview
Naivas is headquartered in Nairobi, with retail outlets in many urban centres in the country. In July 2018, the company hired Andreas von Paleske, as an advisor to assist the business with its strategy and operations. This culminated in bringing African private equity firm Amethis on board for a minority stake.[4] At that time, Naivas Limited maintained 47 stores in Kenya.[5] The supermarket chain opened its 53rd store in Kenya in July 2019 at Rongai, Nakuru County, with plans to open two more, the same year.[6]
History
Naivas Limited was registered on 24 July 1990. It previously traded as Rongai Self Service Stores Limited, serving mainly in Rongai in Nakuru County. The company name was changed later to Naivasha Self Service Stores Limited, before re-branding to the current Naivas Limited, in 2007.[2][7][8]
In August 2013, the Johannesburg Stock Exchange-listed Massmart, a subsidiary of retail giant Walmart, offered to acquire a 51 per cent stake in Naivas at a cost of KSh3 billion, giving Massmart a controlling interest in the retail chain.[9] The bid triggered a feud at family-owned Naivas, and some family members asked a court to block the sale.[10] In October 2013, Naivas management stated that they were no longer selling a controlling stake to Massmart.[11] On 16 July 2014, Naivas opened a store in Garissa, making it the first major retailer to open an outlet in the town. This was Naivas' 31st branch in Kenya.[12][13]
Ownership
Naivas Limited is a privately owned company, whose shares are majorly held by the descendants of its founder Peter Mukuha Kago, who died on 6 May 2010.[14]
November 2014
The table below depicts the shareholding as of November 2014:[1][15]
Naivas Limited Stock Ownership As of November 2014
Rank
Name of Owner
Percentage Ownership
1
David Kimani
25.0
2
Simon Gachwe
25.0
3
Linet Wairimu
15.0
4
Grace Wambui
15.0
5
The Estate of Peter Mukuha Kago
20.0
Total
100.00
April 2020
In February 2020, the Competition Authority of Kenya (CAK) approved the acquisition of 30 percent of Naivas shareholding by the French equity firm Amethis Finance at an undisclosed sum.[16] In April 2020, Business Daily Africa reported that the International Finance Corporation had acquired a minority stake in the company for US$15 million (KSh1.5 billion). As of that date the new shareholding in Naivas Limited, is as illustrated in the table below:[17]
In June 2022, a consortium led by Mauritian investment conglomerate IBL Group, bought out the IFC-led consortium at an undisclosed price. When that deal closes, the shareholding in Naivas Limited will look as depicted in the table below.[18][19]
As of December 2017[update], the supermarket chain maintained forty-three branches across Kenya with the Nairobi south c branch being the latest.[20] By February 2018, that number had risen to 45, with the latest addition being the Capital Centre Mall Branch, along Mombasa Road in Nairobi.[21] In February 2020, the supermarket chain is expected to open its 64th store as the anchor tenant in the mega city mall, in Kisumu.[22] By June 2022, the retail chain had grown to 84 outlets in Kenya.[1]
^ abcdVictor Juma (24 June 2022). "PE funds, World Bank arm sell Naivas stake". Business Daily Africa. Nairobi, Kenya. Retrieved 24 June 2022.
^ abNaivas Limited (2 November 2016). "Naivas Limited: Company History". Nairobi: Naivas Limited. Retrieved 2 November 2016.
^Google (24 June 2022). "Location of the Headquarters of Naivas Limited" (Map). Google Maps. Google. Retrieved 24 June 2022.
^Bonface Otieno (26 July 2018). "Naivas hires expert to guide expansion". Business Daily Africa. Nairobi, Kenya. Retrieved 24 June 2022.
^Bonface Otieno (15 July 2018). "Naivas Mombasa branch increases count to 47 stores". Business Daily Africa. Nairobi, Kenya. Retrieved 24 June 2022.
^Annie Njanja (7 July 2019). "Naivas opens Rongai branch in expansion spree". Business Daily Africa. Nairobi, Kenya. Retrieved 24 June 2022.
^"Company Overview of Naivas Limited". BusinessWeek Investing. 2 November 2015. Retrieved 2 November 2016.
^Eric Matara (27 August 2019). "How Naivas grew from a village shop to a supermarket chain". Daily Nation. Nairobi, Kenya. Retrieved 23 March 2020.
^Peter Kiragu (23 August 2013). "Massmart Confirms Naivas Bid, Targets Fastfood Entry". The Star (Kenya). Nairobi, Kenya. Retrieved 13 October 2014.
^Reuters (16 October 2013). "Confusion Stalks Naivas Buyout Talks With South Africa's Massmart". Business Daily Africa. Nairobi, Kenya. Retrieved 13 October 2014.
^Miriri, Duncan (16 October 2013). "Kenyan Retailer Naivas Says Talks With Wal-Mart Unit Are Off". Reuters. Retrieved 13 October 2014.
^Mutegi, Mugambi (16 July 2014). "Naivas Opens New Front With Garissa Outlet". Business Daily Africa. Nairobi.
^Claudia Lacave (23 March 2020). "Kenya's Naivas: Setting up shop for foreign investors". Paris, France: The African Report. Retrieved 23 March 2020.
^James Kariuki (7 August 2013). "Naivas in Family Feud Over Sale To South Africa's Massmart". Business Daily Africa. Nairobi. Retrieved 13 October 2014.
^Wanjiru Macharia (3 November 2014). "Big Brother Loses As Court Battle for Naivas Ends". Business Daily Africa. Nairobi, Nairobi, Kenya. Retrieved 3 November 2014.
^Jon Mutua (28 February 2020). "Competition watchdog approves sale of Naivas stake". Business Daily Africa. Nairobi. Retrieved 29 February 2020.
^Victor Juma (15 April 2020). "World Bank arm buys Sh1.5bn Naivas stake". Business Daily Africa. Nairobi. Retrieved 15 April 2020.
^ abcVictor Juma (27 June 2022). "Proparco of France buys Sh3.7bn Naivas Supermarket stake". Business Daily Africa. Nairobi. Retrieved 27 June 2022.
^ abcVictor Juma (2 September 2022). "Naivas founders get Sh3.8bn in sale of stake to three firms". Business Daily Africa. Nairobi, Kenya. Retrieved 2 September 2022.
^Mutegi, Mugambi (26 December 2017). "Naivas moves for Nakumatt clients at rival's vacated space". Business Daily Africa. Nairobi. Retrieved 24 December 2017.
^Ngugi, Brian (8 February 2018). "Naivas takes over Uchumi space at Capital Centre Mall". Business Daily Africa. Nairobi. Retrieved 10 February 2018.
^Ngugi, Brian (19 April 2018). "Naivas takes space at new Kitengela mall in expansion drive". Business Daily Africa. Nairobi. Retrieved 21 April 2018.
External links
Official website
Naivas Siblings Get Court Orders To Sell Big Brother’s Shop
Naivas Founder’s Son Looks To Grow His Own Retail Chain
naivas, limited, naivas, supermarket, often, referred, simply, naivas, largest, supermarket, chain, kenya, with, outlets, june, 2022, that, time, naivas, largest, supermarket, chain, kenya, ahead, quick, mart, limited, with, outlets, country, naivas, supermark. Naivas Supermarket often referred to simply as Naivas is the largest supermarket chain in Kenya with 84 outlets as of June 2022 A that time Naivas was the largest supermarket chain in Kenya ahead of Quick Mart Limited with 51 outlets in the country 1 Naivas Supermarket LimitedTypePrivate Majority Family OwnedIndustryRetailFounded27 July 1990 32 years ago 1990 07 27 HeadquartersSameer Industrial ParkNairobi KenyaNumber of locations90 December 10 2022 Key peopleSimon Gashwe Mukuha Chairman David Kimani Mukuha Managing Director Willy Kimani Chief Commercial Officer Peter Mukuha Chief Operations OfficerProductsFood and Non Food GroceryOperating incomeGross sales US 860 million 2022 Number of employees8 000 June 2022 1 WebsiteHomepage Contents 1 Location 2 Overview 3 History 4 Ownership 4 1 November 2014 4 2 April 2020 4 3 June 2022 5 Branches 6 See also 7 References 8 External linksLocation EditThe company headquarters as well as the company s warehouses are located in Sameer Business Park in the Industrial Area of Nairobi the capital and largest city of Kenya 2 The coordinates of the headquarters of Naivas Limited are 01 19 36 0 S 36 52 04 0 E Latitude 1 326667 Longitude 36 867779 3 Overview EditNaivas is headquartered in Nairobi with retail outlets in many urban centres in the country In July 2018 the company hired Andreas von Paleske as an advisor to assist the business with its strategy and operations This culminated in bringing African private equity firm Amethis on board for a minority stake 4 At that time Naivas Limited maintained 47 stores in Kenya 5 The supermarket chain opened its 53rd store in Kenya in July 2019 at Rongai Nakuru County with plans to open two more the same year 6 History EditNaivas Limited was registered on 24 July 1990 It previously traded as Rongai Self Service Stores Limited serving mainly in Rongai in Nakuru County The company name was changed later to Naivasha Self Service Stores Limited before re branding to the current Naivas Limited in 2007 2 7 8 In August 2013 the Johannesburg Stock Exchange listed Massmart a subsidiary of retail giant Walmart offered to acquire a 51 per cent stake in Naivas at a cost of KSh3 billion giving Massmart a controlling interest in the retail chain 9 The bid triggered a feud at family owned Naivas and some family members asked a court to block the sale 10 In October 2013 Naivas management stated that they were no longer selling a controlling stake to Massmart 11 On 16 July 2014 Naivas opened a store in Garissa making it the first major retailer to open an outlet in the town This was Naivas 31st branch in Kenya 12 13 Ownership EditNaivas Limited is a privately owned company whose shares are majorly held by the descendants of its founder Peter Mukuha Kago who died on 6 May 2010 14 November 2014 Edit The table below depicts the shareholding as of November 2014 1 15 Naivas Limited Stock Ownership As of November 2014 Rank Name of Owner Percentage Ownership1 David Kimani 25 02 Simon Gachwe 25 03 Linet Wairimu 15 04 Grace Wambui 15 05 The Estate of Peter Mukuha Kago 20 0Total 100 00 April 2020 Edit In February 2020 the Competition Authority of Kenya CAK approved the acquisition of 30 percent of Naivas shareholding by the French equity firm Amethis Finance at an undisclosed sum 16 In April 2020 Business Daily Africa reported that the International Finance Corporation had acquired a minority stake in the company for US 15 million KSh1 5 billion As of that date the new shareholding in Naivas Limited is as illustrated in the table below 17 Naivas Limited Stock Ownership As of April 2020 Rank Name of Owner Percentage Ownership Notes1 Mukuha Family 70 02 Amethis Finance IFC and Others 30 0Total 100 00June 2022 Edit In June 2022 a consortium led by Mauritian investment conglomerate IBL Group bought out the IFC led consortium at an undisclosed price When that deal closes the shareholding in Naivas Limited will look as depicted in the table below 18 19 Naivas Limited Stock Ownership As of June 2022 Rank Name of Owner Percentage Ownership Notes1 Mukuha Family 60 0 18 19 2 IBL Group Proparco amp DEG 40 0 18 19 Total 100 00Branches EditAs of December 2017 update the supermarket chain maintained forty three branches across Kenya with the Nairobi south c branch being the latest 20 By February 2018 that number had risen to 45 with the latest addition being the Capital Centre Mall Branch along Mombasa Road in Nairobi 21 In February 2020 the supermarket chain is expected to open its 64th store as the anchor tenant in the mega city mall in Kisumu 22 By June 2022 the retail chain had grown to 84 outlets in Kenya 1 See also EditKenya Economy East African Community Supermarket chains in Kenya Supermarket chains in Africa Portals Companies SupermarketsReferences Edit a b c d Victor Juma 24 June 2022 PE funds World Bank arm sell Naivas stake Business Daily Africa Nairobi Kenya Retrieved 24 June 2022 a b Naivas Limited 2 November 2016 Naivas Limited Company History Nairobi Naivas Limited Retrieved 2 November 2016 Google 24 June 2022 Location of the Headquarters of Naivas Limited Map Google Maps Google Retrieved 24 June 2022 Bonface Otieno 26 July 2018 Naivas hires expert to guide expansion Business Daily Africa Nairobi Kenya Retrieved 24 June 2022 Bonface Otieno 15 July 2018 Naivas Mombasa branch increases count to 47 stores Business Daily Africa Nairobi Kenya Retrieved 24 June 2022 Annie Njanja 7 July 2019 Naivas opens Rongai branch in expansion spree Business Daily Africa Nairobi Kenya Retrieved 24 June 2022 Company Overview of Naivas Limited BusinessWeek Investing 2 November 2015 Retrieved 2 November 2016 Eric Matara 27 August 2019 How Naivas grew from a village shop to a supermarket chain Daily Nation Nairobi Kenya Retrieved 23 March 2020 Peter Kiragu 23 August 2013 Massmart Confirms Naivas Bid Targets Fastfood Entry The Star Kenya Nairobi Kenya Retrieved 13 October 2014 Reuters 16 October 2013 Confusion Stalks Naivas Buyout Talks With South Africa s Massmart Business Daily Africa Nairobi Kenya Retrieved 13 October 2014 Miriri Duncan 16 October 2013 Kenyan Retailer Naivas Says Talks With Wal Mart Unit Are Off Reuters Retrieved 13 October 2014 Mutegi Mugambi 16 July 2014 Naivas Opens New Front With Garissa Outlet Business Daily Africa Nairobi Claudia Lacave 23 March 2020 Kenya s Naivas Setting up shop for foreign investors Paris France The African Report Retrieved 23 March 2020 James Kariuki 7 August 2013 Naivas in Family Feud Over Sale To South Africa s Massmart Business Daily Africa Nairobi Retrieved 13 October 2014 Wanjiru Macharia 3 November 2014 Big Brother Loses As Court Battle for Naivas Ends Business Daily Africa Nairobi Nairobi Kenya Retrieved 3 November 2014 Jon Mutua 28 February 2020 Competition watchdog approves sale of Naivas stake Business Daily Africa Nairobi Retrieved 29 February 2020 Victor Juma 15 April 2020 World Bank arm buys Sh1 5bn Naivas stake Business Daily Africa Nairobi Retrieved 15 April 2020 a b c Victor Juma 27 June 2022 Proparco of France buys Sh3 7bn Naivas Supermarket stake Business Daily Africa Nairobi Retrieved 27 June 2022 a b c Victor Juma 2 September 2022 Naivas founders get Sh3 8bn in sale of stake to three firms Business Daily Africa Nairobi Kenya Retrieved 2 September 2022 Mutegi Mugambi 26 December 2017 Naivas moves for Nakumatt clients at rival s vacated space Business Daily Africa Nairobi Retrieved 24 December 2017 Ngugi Brian 8 February 2018 Naivas takes over Uchumi space at Capital Centre Mall Business Daily Africa Nairobi Retrieved 10 February 2018 Ngugi Brian 19 April 2018 Naivas takes space at new Kitengela mall in expansion drive Business Daily Africa Nairobi Retrieved 21 April 2018 External links EditOfficial website Naivas Siblings Get Court Orders To Sell Big Brother s Shop Naivas Founder s Son Looks To Grow His Own Retail Chain Updated List of branchesCoordinates 01 19 36 S 36 52 04 E 1 32667 S 36 86778 E 1 32667 36 86778 Retrieved from https en wikipedia org w index php title Naivas Limited amp oldid 1126794428, wikipedia, wiki, book, books, library,
