Connect with us

Hi, what are you looking for?

Nakumatt workers restocking Nakumatt Village Market/COURTESY


Tuskys injects life into Nakumatt Ukay, Village Market

Nakumatt workers restocking Nakumatt Village Market/COURTESY

NAIROBI, Kenya, Nov 4 – Retailer Tusker Mattresses Limited has confirmed plans to aid the recovery of Nakumatt Holdings through a strategic restocking programme.

The programme which will be undertaken progressively is mutually exclusive of the ongoing legal processes and is aimed at providing a life support platform for Nakumatt ahead of a proposed corporate merger; subject to regulatory approvals.

Speaking when he affirmed the restocking programme kick off, Tusker Mattresses CEO Dan Githua, described the initiative as a strategic corporate nursing exercise.

The restocking programme, he said, is being undertaken in conjunction with leading retail suppliers as part of a mutual commitment to support Nakumatt’s recovery.

The programme, he added, has been structured to facilitate the rapid recovery of the retailer as part of a home grown process to sustain its operations and mitigate systemic risks to the local, formal retail sector.

The first phase, Githua said will feature the restocking of seven key branches in Nairobi and Mombasa. Already, Tuskys, he said has facilitated the restocking of Nakumatt Village Hypermarket and Nakumatt Ukay Supermarket in Nairobi.

“As part of a strategic corporate nursing exercise, Tuskys has commenced the restocking of key Nakumatt branches. This exercise will be stepped up through the month of November and into the festive season with the support of key suppliers,” Githua said, further pointing it out that, “As responsible players in the local formal retail sector, we are duty bound to facilitate the recovery of our market peer and we are glad that key suppliers have responded positively.”

Key suppliers supporting the progressive restocking programme underwritten by Tuskys, Githua said include Unilever Kenya, Aquamist Water, Mjengo Limited, Bidco Africa, Jackys Limited, Proctor & Allan, Aspendos Dairies and Brookside Dairy. Other suppliers include Kevian Kenya, Mill Bakers, Gal Baking, DPL Festive and Kapa Oil Refineries among others.

Last September, Tuskys and Nakumatt jointly confirmed that there have been confidential discussions aimed at exploring potential options for synergies, co-operation and business integration between the two family owned retailers, including by way of strengthening and streamlining management, acquisition of assets and eventual merger of the entities.

These confidential discussions are continuing and a formal agreement is yet to be reached.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...