Botswana's Choppies to buy Kenyan retailer - CNBC Africa

Botswana's Choppies to buy Kenyan retailer

Southern Africa

by Reuters 0

Botswana's Choppies to buy Kenyan retailer

African retailer Choppies plans to buy 10 stores in Kenya for 10 million US dollars as it expands into a fourth market on the continent, the company said on Monday.

(READ MORE: Choppies set to expand African footprint)

Botswana-based Choppies, which operates 125 stores in its home market, South Africa and Zimbabwe, said it has entered into a conditional agreement with Kenya's Ukwala Supermarkets to buy its assets and business name and will fund the acquisition with debt and cash.

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