Kenya’s Quickmart Supermarket merges with Tumaini Self Service

KENYA – Mauritius-based private equity firm Adenia Partners has concluded a deal to acquire majority stake at the emerging retailer Quickmart Supermarket through its special purpose vehicle Sokoni Retail Kenya at an undisclosed amount. Sokoni Retail Kenya holds the controlling stake in Tumaini Self Service. The transaction will see Sokoni merge the operations of Quickmart and Tumaini Self to form a single retail operation under Quickmart brand name. The process has already been approved by industry regulator Competition Authority of Kenya (CAK) giving the investor a stronger footing in Kenya’s…

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