AG Leventis (Nigeria) Plc has entered into a Joint Venture Agreement with Pick n Pay Retailers (Pty) Limited, a South African Company.
The scope of services to be offered by the Joint Venture consist of retail services especially with respect t0 Fast Moving Consumer Goods (FMCGs).
Pick n Pay Holdings Limited and Pick n Pay Stores Limited are investment holding companies listed on the JSE since 1968. Pick n Pay Holdings Limited’s sole purpose is the holding of the controlling shareholding in Pick n Pay Stores Limited. Pick n Pay Stores Limited, through its subsidiaries and associates, operates in the retail sector on the African continent.
Their move to expand into Nigeria is further confirmation of their vision to expand the scope of their business on the African continent.
Since 1967 when consumer champion Raymond Ackerman purchased the first few stores, the Ackerman family’s vision has grown and expanded to now encompass stores in South Africa, Namibia, Botswana, Zambia, Mozambique, Mauritius, Swaziland and Lesotho.
Additionally Pick n Pay owns a 49% share of a Zimbabwean supermarket business, TM Supermarkets.
For the past 5 years, the Group’s core focus has been to strengthen its strong South African retail businesses under the Pick n Pay and Boxer brands, while adopting a systematic approach to expanding into adjacent areas, including geographical growth through the African continent.
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