Quickmart Supermarket was established in 2006, with its first branch opening in Nakuru. The late John Kinuthia founded the business as a family-owned supermarket, which initially expanded to four stores.
The supermarket has since grown through the opening of new branches and the integration of existing retail outlets. The supermarket now has more than 71 stores across 16 counties in Kenya.
Kinuthia died in 2016, after which his family took over the management of the business. Under the family’s leadership, Quickmart recorded gross annual sales of more than Ksh1 billion by 2017.
His son, Duncan Kinuthia, later took over as Managing Director of Quickmart Ltd, continuing the family’s involvement in the supermarket business.
How QuickMart Changed Its Ownership Structure
A major change came in 2019, when Adenia Partners invested in Quickmart following its earlier investment in Tumaini Self Service. The two businesses were later consolidated under the Quickmart brand.
At the time of the investment, Quickmart had 11 supermarkets, with nine branches in Nairobi and two in Nakuru. The consolidation brought the two retail businesses under one brand and supported the supermarket chain’s subsequent expansion.
Quickmart’s ownership is held through Sokoni Retail Kenya Limited (SRKL), the supermarket chain’s sole shareholder. A consortium of institutional and individual investors owns SRKL.
Adenia Partners, a private equity firm based in Mauritius, is the principal investor behind the Kenyan retail business through its ownership structure. The founding Kinuthia family and company management have also held minority interests in the business.
Adenia Partners invested in Quickmart in 2019 and later merged the retailer with Tumaini Self-Service Limited, creating the supermarket chain that operates under the Quickmart brand today.
Executive Leadership
Peter Kang’iri leads Quickmart’s executive management team as Group CEO and Executive Director. Jacques Dôme is the Managing Director and Executive Director.
The senior management team also includes Simon Macharia, Chief Financial Officer; Joseph Kihara Thuku, Chief Commercial Officer; and Stephen Karanja, Chief Retail/Operations Officer.
Peter Mima serves as Head of Special Projects/Q-Commerce, while Priscah Muasya is the Head of Human Resources. Michael Mwangi serves as Head of Internal Audit, and Lilian Kerubo Mosota is the Head of Environmental Health and Safety.
The team also includes Dominic Kwera Kanyingi, Head of Senior Commercial Manager; Robert Villi, Head of Supply Chain; and Patrick Ngira, Head of Fresh Operations.
Jerome Loubere chairs the Board of Directors. The board also includes Alexis Roland Marie Jean Caude and Martha A. Osier, who serve as Board Directors.
Duncan Kinuthia, the founder of Quickmart, serves as a Founder and Board Director, while Moses Nditika Ngeruro serves as an Investment Partner and Board Director.
QuickMart IPO
QuickMart plans to list on the Nairobi Securities Exchange through an offer for sale, with the proposed transaction targeting a launch around September 30, 2026, subject to regulatory approval.
Unlike an IPO where a company issues new shares to raise capital, the Quickmart transaction involves the sale of existing shares held by its sole shareholder, Sokoni Retail Kenya Limited (SRKL).
As a result, Quickmart itself will not receive proceeds from the sale. The funds will instead go to the existing shareholder after the shares the sold.
The proposed offer involves two billion existing ordinary shares, representing 50 percent of Quickmart’s issued share capital. An over-allotment option could increase the portion offered to investors to as much as 57 percent.
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