Naivas Limited
 | |
| Company type | Private,Majority Family Owned |
|---|---|
| Industry | Retail |
| Founded | 27 July 1990 |
| Headquarters | Sameer Industrial Park Nairobi,Kenya |
Number of locations | 90 (December 10 2022) |
Key people |
|
| Products | Food and Non Food Grocery |
| Gross sales: US$860 million (2022) | |
Number of employees | 8,000+ (June 2022)[1] |
| Website | Homepage |
Naivas Supermarket,often referred to simply as "Naivas", is the largestsupermarket chaininKenya,with 103 outlets as of March 2024. At that time, Naivas was the largest supermarket chain in Kenya, ahead ofQuick Mart Limitedwith 51 outlets in the country.[1]
Location
[edit]The company headquarters, as well as the company's warehouses, are located in Sameer Business Park, in theIndustrial AreaofNairobi,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
[edit]Naivas is headquartered inNairobi,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 atRongai,Nakuru County,with plans to open two more, the same year.[6]
History
[edit]Naivas Limited was registered on 24 July 1990. It previously traded as Rongai Self Service Stores Limited, serving mainly inRongaiinNakuru 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, theJohannesburg Stock Exchange-listedMassmart,a subsidiary of retail giantWalmart,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 toMassmart.[11]On 16 July 2014, Naivas opened a store inGarissa,making it the first major retailer to open an outlet in the town. This was Naivas' 31st branch in Kenya.[12][13]
Ownership
[edit]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
[edit]The table below depicts the shareholding as of November 2014:[1][15]
| 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 ofPeter Mukuha Kago | 20.0 |
| Total | 100.00 |
April 2020
[edit]In February 2020, the Competition Authority of Kenya (CAK) approved the acquisition of 30 percent of Naivas shareholding by theFrenchequity firmAmethis Financeat an undisclosed sum.[16]In April 2020,Business Daily Africareported that theInternational Finance Corporationhad acquired a minority stake in the company for US$15 million ( approx: KSh2.1 billion). As of that date the new shareholding in Naivas Limited, is as illustrated in the table below:[17]
| Rank | Name of Owner | Percentage Ownership | Notes |
|---|---|---|---|
| 1 | Mukuha Family | 70.0 |
|
| 2 | Amethis Finance,IFCand Others | 30.0 |
|
| Total | 100.00 |
June 2022
[edit]In June 2022, a consortium led by Mauritian investment conglomerateIBL 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]
| Rank | Name of Owner | Percentage Ownership | Notes |
|---|---|---|---|
| 1 | Mukuha Family | 60.0 |
[18][19] |
| 2 | IBL Group,Proparco&DEG | 40.0 |
[18][19] |
| Total | 100.00 |
Branches
[edit]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 theanchor tenantin the mega city mall, inKisumu.[22]By June 2022, the retail chain had grown to 84 outlets in Kenya.[1]
See also
[edit]
References
[edit]- ^abcdVictor Juma (24 June 2022)."PE funds, World Bank arm sell Naivas stake".Business Daily Africa.Nairobi, Kenya.Retrieved24 June2022.
- ^abNaivas Limited (2 November 2016)."Naivas Limited: Company History".Nairobi: Naivas Limited.Retrieved2 November2016.
- ^Google(24 June 2022)."Location of the Headquarters of Naivas Limited"(Map).Google Maps.Google.Retrieved24 June2022.
- ^Bonface Otieno (26 July 2018)."Naivas hires expert to guide expansion".Business Daily Africa.Nairobi, Kenya.Retrieved24 June2022.
- ^Bonface Otieno (15 July 2018)."Naivas Mombasa branch increases count to 47 stores".Business Daily Africa.Nairobi, Kenya.Retrieved24 June2022.
- ^Annie Njanja (7 July 2019)."Naivas opens Rongai branch in expansion spree".Business Daily Africa.Nairobi, Kenya.Retrieved24 June2022.
- ^"Company Overview of Naivas Limited".BusinessWeek Investing.2 November 2015. Archived fromthe originalon 13 October 2014.Retrieved2 November2016.
- ^Eric Matara (27 August 2019)."How Naivas grew from a village shop to a supermarket chain".Daily Nation.Nairobi, Kenya.Retrieved23 March2020.
- ^Peter Kiragu (23 August 2013)."Massmart Confirms Naivas Bid, Targets Fastfood Entry".The Star (Kenya).Nairobi, Kenya.Retrieved13 October2014.
- ^Reuters (16 October 2013)."Confusion Stalks Naivas Buyout Talks With South Africa's Massmart".Business Daily Africa.Nairobi, Kenya.Retrieved13 October2014.
{{cite web}}:|author=has generic name (help) - ^Miriri, Duncan (16 October 2013)."Kenyan Retailer Naivas Says Talks With Wal-Mart Unit Are Off".Reuters.Retrieved13 October2014.
- ^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.Retrieved23 March2020.
- ^James Kariuki (7 August 2013)."Naivas in Family Feud Over Sale To South Africa's Massmart".Business Daily Africa.Nairobi.Retrieved13 October2014.
- ^Wanjiru Macharia (3 November 2014)."Big Brother Loses As Court Battle for Naivas Ends".Business Daily Africa.Nairobi, Nairobi, Kenya.Retrieved3 November2014.
- ^Jon Mutua (28 February 2020)."Competition watchdog approves sale of Naivas stake".Business Daily Africa.Nairobi.Retrieved29 February2020.
- ^Victor Juma (15 April 2020)."World Bank arm buys Sh1.5bn Naivas stake".Business Daily Africa.Nairobi.Retrieved15 April2020.
- ^abcVictor Juma (27 June 2022)."Proparco of France buys Sh3.7bn Naivas Supermarket stake".Business Daily Africa.Nairobi.Retrieved27 June2022.
- ^abcVictor Juma (2 September 2022)."Naivas founders get Sh3.8bn in sale of stake to three firms".Business Daily Africa.Nairobi, Kenya.Retrieved2 September2022.
- ^Mutegi, Mugambi (26 December 2017)."Naivas moves for Nakumatt clients at rival's vacated space".Business Daily Africa.Nairobi.Retrieved24 December2017.
- ^Ngugi, Brian (8 February 2018)."Naivas takes over Uchumi space at Capital Centre Mall".Business Daily Africa.Nairobi.Retrieved10 February2018.
- ^Ngugi, Brian (19 April 2018)."Naivas takes space at new Kitengela mall in expansion drive".Business Daily Africa.Nairobi.Retrieved21 April2018.