Naivas Limited

Naivas Supermarket Limited
Private Family Owned
Industry Retail trade
Founded 27 July 1998 (1998-07-27)
Headquarters Sameer Industrial Park
Nairobi, Kenya
Key people
 Simon Gashwe Mukuha
Chairman
David Kimani Mukuha
Director
Website Naivas Homepage

Naivas Supermarket, often referred to simply as "Naivas", is a Kenyan supermarket chain.

Overview

Naivas is headquartered in Nairobi, with retail outlets in country. The chain is the country's third largest supermarket chain behind Nakumatt and Tuskys. Naivas has a wider branch network than Uchumi, which is listed on the Nairobi Securities Exchange.

History

Naivas Limited was registered on 24 July 1998. It previously traded as Rongai Self Service Stores Limited, serving mainly in Rongai in Nakuru County. The company name was changed later to Naivasha Self Service Stores Limited, before re-branding to the current Naivas Limited, in 2007.[1]

In August 2013, the Johannesburg Stock Exchange-listed Massmart, a subsidiary of retail giant Walmart, 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.[2] The bid triggered a feud at family-owned Naivas, and some family members asked a court to block the sale.[3] In October 2013, Naivas management stated that they were no longer selling a controlling stake to Massmart.[4] On 16 July 2014, Naivas opened a store in Garissa, making it the first major retailer to open an outlet in the town. This was Naivas' 31st branch in Kenya.[5]

Ownership

Naivas Limited is a privately owned company, whose shares are held by the descendants of its founder Peter Mukuha Kago, who died on 6 May 2010.[6] The table below depicts the shareholding as of November 2014:[7]

Naivas Limited Stock Ownership
Rank Name of OwnerPercentage Ownership
1David Kimani25.0
2Simon Gachwe25.0
3Linet Wairimu15.0
4Grace Wambui15.0
5The Estate of Peter Mukuha Kago20.0
Total100.00

Branches

As of November 2015, the supermarket chain maintained 39 branches across Kenya with the Ukunda branch being the latest.

See also

References

  1. ↑ "Company Overview of Naivas Limited". BusinessWeek Investing. Retrieved 13 October 2014.
  2. ↑ Kiragu, Peter (23 August 2013). "Massmart Confirms Naivas Bid, Targets Fastfood Entry". The Star (Kenya). Retrieved 13 October 2014.
  3. ↑ Reuters, and Business Daily Reporter (16 October 2013). "Confusion Stalks Naivas Buyout Talks With South Africa’s Massmart". Business Daily Africa (Nairobi). Retrieved 13 October 2014.
  4. ↑ Miriri, Duncan (16 October 2013). "Kenyan Retailer Naivas Says Talks With Wal-Mart Unit Are Off". Reuters. Retrieved 13 October 2014.
  5. ↑ Mutegi, Mugambi (16 July 2014). "Naivas Opens New Front With Garissa Outlet". Business Daily Africa (Nairobi).
  6. ↑ Kariuki, James (7 August 2013). "Naivas In Family Feud Over Sale To South Africa's Massmart". Business Daily Africa (Nairobi). Retrieved 13 October 2014.
  7. ↑ Macharia, Wanjiru (3 November 2014). "Big Brother Loses As Court Battle for Naivas Ends". Business Daily Africa (Nairobi). Retrieved 3 November 2014.

External links

This article is issued from Wikipedia - version of the Sunday, November 22, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.