Retail chain Nakumatt has received a go ahead by the Competition Authority to acquire three stores in western Kenya belonging to Yako Supermarket Limited.
The three stores are located in Kakamega, Bungoma and Busia. Nakumatt has another store in Kakamega.
The acquisition will add to the retail chain’s vast branch network as it strives to stay ahead of fierce competitors Tuskys, Naivas and Uchumi.
Retain all employees
Devolution and improving economic climate has raised the standard of living in the counties helping to grow disposable income by providing a market to the especially populous agricultural counties
“It is notified for general information that the Competition Authority of Kenya has authorised the proposed acquisition of the assets of Yako Supermarket Limited by Nakumatt Holdings Limited, on condition that the merged entity shall retain all 283 employees of Yako Supermarkets,” said the Authority’s Director-General Wang’ombe Kariuki in a notice on the Kenya Gazette.
Nakumatt has over the years acquired several retail chains as well as set up stores from scratch to grow its branch network.
In 2013, it acquired three stores belonging to South Africa’s Shoprite in Tanzania. Earlier in 2010, it bought four stores in Nairobi Central Business District from rival Woolmatt Supermarkets.