FoodCo Consolidates Leadership With 20th Store Opening

FoodCo Nigeria Limited, a Top 5 Nigerian retailer and two-time honouree among Financial Times’ Africa’s Fastest Growing Companies, has unveiled its latest store in Adebayi, Ibadan, Oyo State in the same month as it celebrates its 42nd anniversary. The new addition consolidates the brand’s leadership in Southwest Nigeria with 20 outlets spread across key cities including Abeokuta, Ibadan and Lagos.

Speaking at the launch, Funmi Aiyepeku, Head of Innovation & Growth and Business Transformation, FoodCo Nigeria Limited, stated that the new store opening underscores the company’s responsiveness to customers’ demand by bringing the quality assurance, convenience and excellent customer service that modern retail offers closer to the people of the community and its environs.

She said: “We are excited to announce the opening of our 20th brand store in Adegbayi, Ibadan, Oyo State. This is a milestone that speaks about our resilience in the face of tough economic headwinds and our commitment to delivering on customers’ expectations. At this period of great shifts in the market, we have remained unwavering in our resolve to redefine modern retail in Nigeria by fostering a new model based on customer-focus, innovation and community partnerships. This is the motivation behind our promise to always deliver quality at an affordable price and this outlet strengthens our resolve towards fulfilling the pledge.

“FoodCo Adegbayi is a symbol of our enduring belief in the Nigerian market and our dedication towards serving our diverse community of stakeholders. We are not merely expanding our brand footprint, we are expanding on our promise to deliver quality, affordability and an exceptional shopping experience to every corner of Nigeria. We are also optimistic that this outlet will create new prospects for our rapidly expanding ecosystem of partner suppliers and vendors, especially those within the SME community, who rely on FoodCo as a trusted access to market channel.”

Speaking on the company’s strategy for growth amid a lowered customer purchasing power, Aiyepeku explained: “In over 4 decades of operations, we have garnered significant experience and resilience to help us weather changing seasons. Part of FoodCo’s success is hinged on its agility in adapting to the dynamics of the market. Presently, we are exploring and investing in new technologies to attract the mostly mobile younger population and deliver a seamless shopping experience to them in an increasingly cost-effective way. We are excited about the journey ahead and look forward to continuing to exceed even our own projections in every way possible.”

In keeping with the brand’s modern store design, FoodCo Adegbayi will feature a supermarket, restaurant, in-house bakery and grills co-located within the facility.

Established in 1982, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. The company operates the largest supermarket chain brand in South-west Nigeria, outside Lagos, and was listed in Financial Times’ annual ranking of Africa’s Fastest Growing Companies for the consecutive years 2022