, NAIROBI, Kenya Nov 20 – Regional retailer, Nakumatt Holdings, has successfully acquired Yako Supermarkets setting the stage for its enhanced expansion in Western Kenya.
The acquisition follows regulatory approval by the Competition Authority of Kenya and will allow Nakumatt to make a fresh entry to Busia and Bungoma, towns.
Nakumatt Holdings, Regional Operations and Strategy Director Thiagarajan Ramamurthy said the firm has already embarked on the refurbishment works for the three stores to bring them up to par with the retailer’s brand standards and in store ambience.
The new stores will be reopened early next month, under the branch names Nakumatt Bungoma, Nakumatt Busia and Nakumatt Mid-Point, in Kakamega.
“The acquisition, of Yako Supermarket outlets is fundamentally aligned to our commitment to enhance our local and regional footprint,” Ramamurthy said, adding,” we have proceeded to temporarily close down the stores in Kakamega, Busia and Bungoma to facilitate their remodelling, staff training and in store branding,” Ramamurthy said.
He says plans, for the opening of new Nakumatt stores before the end of the trading year, in Kericho, Emali, Kampala and Kigali, are already in high gear.
The move will see Nakumatt, close its trading year ending February 2015 with 60 branches up from its current 55 branch status.