Pick N Pay acquires WhiteTree Gourmet grocery brand
Pick n Pay, a retail business in fast-moving consumer goods industry, has acquired WhiteTree Gourmet, a luxury retail groceries supermarket in Lagos, to bolster its offerings and expand geographically.
Pick n Pay operates through multiple store formats under two brands –Pick n Pay and Boxer– and they have the largest online grocery business in Africa.
Nigeria, with a population of over 200m and home to the largest consumer market on the continent, offers tremendous and attractive opportunities for investors interested in the retail business. Hence, have attracted global retail giants and have propelled the growth of some indigenous retailers.
WhiteTree Gourmet sought to bring the full experience of shopping abroad to Nigeria, allowing customers of all races and demographics domiciled in Lagos the ability to experience the ease of shopping and a luxurious atmosphere such as they would see in very well-developed climes
Ewaen Sorae, founder of WhiteTree Gourmet created a solution to the retail needs of clients that understand excellence, wanted luxury and needed a space that offered that, the exit came as Pick N Pay, a giant in the retail Industry, approached Ewaen looking to expand its operations.
Speaking on the acquisition, the manager in charge of Pick N Pay Nigeria was impressed with the kind of capacity WhiteTree Retail possessed to run WhiteTree Gourmet successfully despite being fairly new in the FMCG space.
Mr Ewaen Sorae, who also owns E’Sorae Luxury, a bedding brand with the sole intention of redefining good sleep, is the founder of WhiteTree Gourmet.
The Whitetree experience is second to none as it made retail shopping modern and inspiring with competitive pricing, quality stock from all over the world and an ambience and environment like no other. WhiteTree Gourmet in its first 6 months had grown to serve more than five thousand customers and a lot of vendors.
However, Pick n Pay, the largest online grocery business in Africa recently acquired WhiteTree Gourmet, to bolster its offerings and expand geographically.
The exit came as Pick N Pay, a giant in the retail Industry, approached Mr Ewaen looking to expand its operations. With their antecedent in the South African retail industry and their capacity to build upon the legacy of WhiteTree Gourmet and in the interest of the community and the numerous clientele that had enjoyed the WhiteTree experience, Pick N Pay acquired White Tree Gourmet.
Speaking on the acquisition, the Manager in charge of Pick N Pay Nigeria was impressed with the kind of capacity WhiteTree Retail possessed to run WhiteTree Gourmet successfully despite being fairly new in the FMCG space.
The WhiteTree Group is positioned as a solutions provider in niche markets and a partnership/acquisition of this magnitude would further strengthen our capacity and drive us to invest in other solutions within the retail sector.
WhiteTree Retail, however, has positioned itself to be a viable player and investor in the retail FMCG space with sufficient capital and experience from the MD, Mr Ewaen Sorae, who has successfully run the retail brand E’Sorae Luxury and has surpassed expectations in that industry.