Everyday Group Acquisition

This notification to the Federal Competition and Consumer Protection Commission (the Commission) relates to the proposed acquisition by the Uhuru Growth Fund (through Uhuru Nigeria Retail SARL (a Luxembourg special purpose vehicle) (Uhuru) of 56.8% stake in Everyday Group of Company Limited (Everyday). Founded in 2003, Everyday Group of Company is the holding company for Everyday Supamarket Nigeria Limited & Dimarine Nigeria Limited. The group has been operating in the retail space for close to 20 years, with a chain of supermarkets in the South South and South Eastern regions of Nigeria.

Uhuru Growth Fund is a private equity fund that seeks to provide growth capital to mid-market companies across West Africa. Uhuru Growth Fund invests in high growth sectors, with emphasis on consumer driven businesses and financial services. The proposed transaction is in the retail sector in Nigeria, in which only Everyday has business activities through its subsidiaries.

Uhuru does not operate nor does it hold any investments in the Nigerian retail sector. Therefore, no competition concerns will arise as a result of the proposed transaction. There are also no public interest concerns and there will be no negative impact on employment in Nigeria.