Quick Mart, also Quickmart, is a Kenyan supermarket chain. As of June 2022, it was the second largest supermarket chain in the country, behind market leader, Naivas Limited, with 84 stores and over 8,000 employees.[1] At that time, according to its website, Quickmart had 53 retail outlets and employed in excess of 5,000 people.[2]
Quickmart was founded in 2006 in the then town of Nakuru, which is Nakuru City today. It was started by the late John Kinuthia, a businessman, who passed away in 2016. In its early years, it was run as a family-owned and family-operated business. As of November 2017, the retail chain maintained eight outlets.[3][4]
Quickmart merged with Tumaini Self Service Limited, another retail chain in 2019. At the time of the merger, Quickmart had 11 branches and Tumaini had 13 branches. The new business adopted the Quick Mart brand. The merger concluded in 2020.[5][6] The majority shareholder in the new business is Adenia Partners of Mauritius, through their wholly owned Kenyan subsidiary company Sokoni Retail Kenya.[7]
OverviewEdit
As of June 2022, Quick Mart Limited was the second-largest supermarket chain in Kenya, with 53 retail outlets.[1][2] In 2017, the components of today's (2022) Quickmart had gross annual sales in excess of KSh1 billion (approx. US$10 million) then.[6]
Quick Mart is a fast-growing retail chain. In 2021, it opened six new stores, the highest number among all supermarket chains in the country that year. A number of factors contributed to that rapid growth. Three large Kenyan supermarket chains collapsed around that time; Nakumatt, Tuskys and Uchumi all went under in rapid succession. At about this time, Choppies Enterprises Limited, a retail chain based in Botswana, withdrew from Kenya. With new funding from Adenia Partners, Quick Mart expanded into some of the locations vacated by the closed firms.[8]
OwnershipEdit
The table below illustrates the shareholding in Quick Mart Supermarkets Limited in June 2022.[6][7]
Quickmart Supermarkets Limited Stock Ownership As of June 2022
After the merger with Tumaini Self Service Stores, Quick Mart is led by a ten-person senior management team headed by the chief executive officer, Peter Kang'iri.[6][9]
^ abVictor Juma (24 June 2022). "PE funds, World Bank arm sell Naivas stake". Business Daily Africa. Nairobi, Kenya. Retrieved 25 June 2022.
^ abQuickmart Supermarkets Kenya (25 June 2022). "About Us". Quickmart.co.ke. Nairobi, Kenya. Retrieved 26 June 2022.
^Mugambi Mutegi (29 November 2017). "Family-owned retail chain Quick Mart to open two branches". Business Daily Africa. Nairobi, Kenya. Retrieved 26 June 2022.
^Trending In Kenya (2020). "The Man Who Owns Quickmart Supermarket". Trendinginkenya.com. Nairobi, Kenya. Retrieved 26 June 2022.
^Quickmart Supermarkets (26 June 2022). "About Us". Quickmart Supermarkets. Nairobi, Kenya. Retrieved 26 June 2022.
^ abcdefgFood Business Africa (5 September 2019). "Kenya's Quickmart Supermarket merges with Tumaini Self Service". Foodbusinessafrica.com. Nairobi, Kenya. Retrieved 26 June 2022. {{cite web}}: |author= has generic name (help)
^ abcdeAVCA (27 September 2019). "Adenia Partners concludes investment in Quick Mart". African Private Equity and Venture Capital Association (AVCA). London, United Kingdom. Retrieved 26 June 2022.
^Constant Munda (26 April 2022). "Supermarkets opened 19 new stores in 2021". Business Daily Africa. Nairobi, Kenya. Retrieved 27 June 2022.
^Quickmart (26 June 2022). "Quickmart Corporate Governance: Senior Executive Management Team". Quickmart Supermarkets. Nairobi, Kenya. Retrieved 26 June 2022.
External linksEdit
Webpage of Quick Mart Supermarkets Limited (Quickmart)
Quickmart Kenya branches
September 20, 2023
quick, mart, limited, quick, mart, also, quickmart, kenyan, supermarket, chain, june, 2022, second, largest, supermarket, chain, country, behind, market, leader, naivas, limited, with, stores, over, employees, that, time, according, website, quickmart, retail,. Quick Mart also Quickmart is a Kenyan supermarket chain As of June 2022 it was the second largest supermarket chain in the country behind market leader Naivas Limited with 84 stores and over 8 000 employees 1 At that time according to its website Quickmart had 53 retail outlets and employed in excess of 5 000 people 2 Quick Mart LimitedTypePrivateIndustryRetail tradeFounded2006FounderJohn KinuthiaHeadquartersNairobi KenyaKey peoplePeter Kang iriChief Executive OfficerProductsSupermarketsNumber of employees5 000 2022 SubsidiariesIn KenyaWebsiteHomepage Contents 1 History 2 Overview 3 Ownership 4 Governance 5 See also 6 References 7 External linksHistory EditQuickmart was founded in 2006 in the then town of Nakuru which is Nakuru City today It was started by the late John Kinuthia a businessman who passed away in 2016 In its early years it was run as a family owned and family operated business As of November 2017 the retail chain maintained eight outlets 3 4 Quickmart merged with Tumaini Self Service Limited another retail chain in 2019 At the time of the merger Quickmart had 11 branches and Tumaini had 13 branches The new business adopted the Quick Mart brand The merger concluded in 2020 5 6 The majority shareholder in the new business is Adenia Partners of Mauritius through their wholly owned Kenyan subsidiary company Sokoni Retail Kenya 7 Overview EditAs of June 2022 Quick Mart Limited was the second largest supermarket chain in Kenya with 53 retail outlets 1 2 In 2017 the components of today s 2022 Quickmart had gross annual sales in excess of KSh1 billion approx US 10 million then 6 Quick Mart is a fast growing retail chain In 2021 it opened six new stores the highest number among all supermarket chains in the country that year A number of factors contributed to that rapid growth Three large Kenyan supermarket chains collapsed around that time Nakumatt Tuskys and Uchumi all went under in rapid succession At about this time Choppies Enterprises Limited a retail chain based in Botswana withdrew from Kenya With new funding from Adenia Partners Quick Mart expanded into some of the locations vacated by the closed firms 8 Ownership EditThe table below illustrates the shareholding in Quick Mart Supermarkets Limited in June 2022 6 7 Quickmart Supermarkets Limited Stock Ownership As of June 2022 Rank Name of Owner Domicile Percentage Ownership Notes1 Kinuthia Family Kenya Less than 50 0 6 7 2 Sokoni Retail Kenya Kenya More than 50 0 6 7 Total 100 00Sokoni Retail Kenya is a Kenyan investment company wholly owned by private equity firm Adenia Partners based in Mauritius 6 7 Governance EditAfter the merger with Tumaini Self Service Stores Quick Mart is led by a ten person senior management team headed by the chief executive officer Peter Kang iri 6 9 See also Edit nbsp Companies portal nbsp Supermarkets portalList of supermarket chains in Kenya Economy of KenyaReferences Edit a b Victor Juma 24 June 2022 PE funds World Bank arm sell Naivas stake Business Daily Africa Nairobi Kenya Retrieved 25 June 2022 a b Quickmart Supermarkets Kenya 25 June 2022 About Us Quickmart co ke Nairobi Kenya Retrieved 26 June 2022 Mugambi Mutegi 29 November 2017 Family owned retail chain Quick Mart to open two branches Business Daily Africa Nairobi Kenya Retrieved 26 June 2022 Trending In Kenya 2020 The Man Who Owns Quickmart Supermarket Trendinginkenya com Nairobi Kenya Retrieved 26 June 2022 Quickmart Supermarkets 26 June 2022 About Us Quickmart Supermarkets Nairobi Kenya Retrieved 26 June 2022 a b c d e f g Food Business Africa 5 September 2019 Kenya s Quickmart Supermarket merges with Tumaini Self Service Foodbusinessafrica com Nairobi Kenya Retrieved 26 June 2022 a href Template Cite web html title Template Cite web cite web a author has generic name help a b c d e AVCA 27 September 2019 Adenia Partners concludes investment in Quick Mart African Private Equity and Venture Capital Association AVCA London United Kingdom Retrieved 26 June 2022 Constant Munda 26 April 2022 Supermarkets opened 19 new stores in 2021 Business Daily Africa Nairobi Kenya Retrieved 27 June 2022 Quickmart 26 June 2022 Quickmart Corporate Governance Senior Executive Management Team Quickmart Supermarkets Nairobi Kenya Retrieved 26 June 2022 External links EditWebpage of Quick Mart Supermarkets Limited Quickmart Quickmart Kenya branches Retrieved from https en wikipedia org w index php title Quick Mart Limited amp oldid 1160225776, wikipedia, wiki, book, books, library,
