Quick Mart Limited

{{EngvarB|date=June 2022}} {{Use dmy dates|date=June 2022}} {{Infobox company | name = Quick Mart Limited | logo = | image = | type = Private | foundation = 2006 | founder = Non | location = Nairobi, Kenya | key_people = '''Peter Kang'iri'''<br/>Chief Executive Officer | revenue = | net_income = | assets = | num_employees = 5,000+ (2022) | industry = Retail trade | products = Supermarkets | subsid = In Kenya | website = [https://quickmart.com/ Homepage]| }}

'''Quick Mart''', also '''Quickmart''', is a Kenyan supermarket chain. As of June 2022, it was the second largest supermarket chain in the country, behind market leader, Naivas Limited, with 84 stores and over 8,000 employees.<ref name="1R">{{cite web|url=https://www.businessdailyafrica.com/bd/corporate/companies/pe-funds-world-bank-arm-sells-naivas-stake-3858104 |title=PE funds, World Bank arm sell Naivas stake |work=Business Daily Africa |date=24 June 2022 |author=Victor Juma |access-date=25 June 2022 | location=Nairobi, Kenya}}</ref> At that time, according to its website, Quickmart had 53 retail outlets and employed in excess of 5,000 people.<ref name="2R">{{cite web |work=Quickmart.co.ke |url=https://quickmart.co.ke/about-us/ |title=About Us |date=25 June 2022 |author=Quickmart Supermarkets Kenya |access-date=26 June 2022 |location=Nairobi, Kenya |archive-date=24 June 2022 |archive-url=https://web.archive.org/web/20220624162925/https://quickmart.co.ke/about-us/ |url-status=dead }}</ref>

==History== Quickmart was founded in 2006 in the then town of Nakuru, which is Nakuru City today. It was started by the late John Kinuthia, a businessman, who died in 2016. In its early years, it was run as a family-owned and family-operated business. As of November 2017, the retail chain maintained eight outlets.<ref name="3R">{{cite web| work=Business Daily Africa | url=https://www.businessdailyafrica.com/bd/corporate/companies/family-owned-retail-chain-quick-mart-to-open-two-branches-2179558 | title=Family-owned retail chain Quick Mart to open two branches | date=29 November 2017 |author=Mugambi Mutegi |access-date=26 June 2022 |location=Nairobi, Kenya}}</ref><ref name="4R">{{cite web |url=http://trendinginkenya.com/the-man-who-owns-quickmart-supermarket/ |title=The Man Who Owns Quickmart Supermarket |work=Trendinginkenya.com |date=2020 |author=Trending In Kenya |access-date=26 June 2022 |location=Nairobi, Kenya |archive-date=6 December 2021 |archive-url=https://web.archive.org/web/20211206081027/http://trendinginkenya.com/the-man-who-owns-quickmart-supermarket/ |url-status=dead }}</ref>

Quickmart merged with ''Tumaini Self Service Limited'', another retail chain in 2019. At the time of the merger, Quickmart had 11 branches and Tumaini had 13 branches. The new business adopted the Quick Mart brand. The merger concluded in 2020.<ref name="5R">{{cite web |url=https://quickmart.co.ke/about-us/ |title=About Us |date=26 Jun 2022 |work=Quickmart Supermarkets |access-date=26 June 2022 |author=Quickmart Supermarkets |location=Nairobi, Kenya |archive-date=24 June 2022 |archive-url=https://web.archive.org/web/20220624162925/https://quickmart.co.ke/about-us/ |url-status=dead }}</ref><ref name="6R">{{cite web | date=5 September 2019 | url=https://www.foodbusinessafrica.com/kenyas-quickmart-supermarket-merges-with-tumaini-self-service/ | title=Kenya's Quickmart Supermarket merges with Tumaini Self Service | access-date=26 June 2022 | publisher=Food Business Africa | location=Nairobi, Kenya | archive-date=16 May 2022 | archive-url=https://web.archive.org/web/20220516110348/https://www.foodbusinessafrica.com/kenyas-quickmart-supermarket-merges-with-tumaini-self-service/ | url-status=dead }}</ref> The majority shareholder in the new business is ''Adenia Partners'' of Mauritius, through their wholly owned Kenyan subsidiary company ''Sokoni Retail Kenya''.<ref name="7R">{{cite web |url=https://www.avca-africa.org/newsroom/member-news/2019/adenia-partners-concludes-investment-in-quick-mart/ |title=Adenia Partners concludes investment in Quick Mart |date=27 September 2019 |work=African Private Equity and Venture Capital Association (AVCA) |access-date=26 June 2022 |author=AVCA |location=London, United Kingdom |archive-date=26 May 2022 |archive-url=https://web.archive.org/web/20220526135043/https://www.avca-africa.org/newsroom/member-news/2019/adenia-partners-concludes-investment-in-quick-mart/ |url-status=dead }}</ref>

==Overview== As of June 2022, Quick Mart Limited was the second-largest supermarket chain in Kenya, with 53 retail outlets.<ref name="1R"/><ref name="2R"/> In 2017, the components of today's (2022) Quickmart had gross annual sales in excess of KSh1 billion (approx. US$10 million) then.<ref name="6R"/>

Quick Mart is a fast-growing retail chain. In 2021, it opened six new stores, the highest number among all supermarket chains in the country that year. A number of factors contributed to that rapid growth. Three large Kenyan supermarket chains collapsed around that time; Nakumatt, Tuskys and Uchumi all went under in rapid succession. At about this time, Choppies Enterprises Limited, a retail chain based in Botswana, withdrew from Kenya. With new funding from Adenia Partners, Quick Mart expanded into some of the locations vacated by the closed firms.<ref name="8R">{{cite web| url=https://www.businessdailyafrica.com/bd/markets/market-news/supermarkets-opened-19-new-stores-in-2021-3794018 | title=Supermarkets opened 19 new stores in 2021 |date=26 April 2022 |work=Business Daily Africa |access-date=27 June 2022 |author=Constant Munda |location=Nairobi, Kenya}}</ref>

==Ownership== The table below illustrates the shareholding in Quick Mart Supermarkets Limited in June 2022.<ref name="6R"/><ref name="7R"/>

{| class="wikitable sortable" style="margin: 0.5em auto" |+ Quickmart Supermarkets Limited Stock Ownership As of June 2022 ! Rank !!Name of Owner!!Domicile !!Percentage Ownership!! Notes |- |1||Kinuthia Family ||Kenya ||{{center|Less than 50.0}} ||<ref name="6R"/><ref name="7R"/> |- |2||Sokoni Retail Kenya* ||Kenya ||{{center|More than 50.0}} ||<ref name="6R"/><ref name="7R"/> |- | ||'''Total'''|| ||{{center|'''100.00'''}} || |- |}

* Sokoni Retail Kenya is a Kenyan investment company, wholly owned by private equity firm, ''Adenia Partners'', based in Mauritius.<ref name="6R"/><ref name="7R"/>

==Governance== After the merger with Tumaini Self Service Stores, Quick Mart is led by a ten-person senior management team headed by the chief executive officer, Peter Kang'iri.<ref name="6R"/><ref name="9R">{{cite web |url=https://quickmart.co.ke/corporate-governance/ |title=Quickmart Corporate Governance: Senior Executive Management Team |date=26 June 2022 |work=Quickmart Supermarkets |access-date=26 June 2022 |author=Quickmart |location=Nairobi, Kenya |archive-date=24 June 2022 |archive-url=https://web.archive.org/web/20220624161643/https://quickmart.co.ke/corporate-governance/ |url-status=dead }}</ref>

==See also== {{portal|Companies|Supermarkets}} *List of supermarket chains in Kenya *Economy of Kenya

==References== {{reflist|30em}}

==External links== *[https://quickmart.co.ke/ Webpage of Quick Mart Supermarkets Limited (Quickmart)] *[https://sukari.co.ke/p/all-quickmart-supermarket-branches-in-kenya Quickmart Kenya branches] {{Webarchive|url=https://web.archive.org/web/20221224131246/https://sukari.co.ke/p/all-quickmart-supermarket-branches-in-kenya |date=24 December 2022 }}

Category:Supermarkets of Kenya Category:Retail companies established in 2006 Category:Companies based in Nairobi Category:2006 establishments in Kenya Category:Kenyan companies established in 2006