Tag: FoodCo

For the second year running, FoodCo Nigeria, a top-three retailer and operator of the largest supermarket chain in South-West Nigeria, has been named Retail Brand of the Year at the 2025 Nigerian Business Leadership Awards (NBLA).

Organised by BusinessDay Media Limited, Nigeria’s foremost business intelligence platform, this year’s award marks the fourth time FoodCo will be recognised as Retailer of the Year and the fifth overall honour the brand has received in the NBLA series.

Presenting the award, Frank Aigbogun, Publisher of BusinessDay, noted that the NBLA provides a platform to celebrate dynamic enterprises that contribute meaningfully to the Nigerian economy while promoting knowledge sharing and sector-wide collaboration.

He commended FoodCo for its leadership and innovativeness in redefining models for competitiveness and sustainability within the retail sector—despite persistent macroeconomic challenges including double-digit inflation, foreign exchange pressures, policy uncertainties, supply chain fragmentation, and chronic power constraints.

According to him, “FoodCo’s recognition as Retail Brand of the Year is a testament to the resilient leadership that drives the economy forward. It aligns with our belief that leadership is measured not only by strong performance but also by the ability to confront challenges with integrity and a clear sense of purpose. FoodCo has turned routine operations into meaningful progress, showing that African enterprise—when built on resilience, responsibility, and relevance—can grow, inspire, and compete confidently on the global stage.”

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Receiving the award on behalf of FoodCo, Ade Sun-Basorun, CEO of the company—represented by Rufus Fayeun, Head of Human Resources—expressed appreciation to BusinessDay for the recognition and dedicated the award to the FoodCo team, customers, and host communities.

He said: “We are honoured and humbled by this recognition, especially as it affirms FoodCo’s continued commitment to the Nigerian retail community over the last four decades. Since inception, we have remained focused on delivering quality products and exceptional customer experiences by nurturing a culture of innovation and responsible growth. This award reaffirms our dedication to serving Nigerian consumers. It reflects the passion and hard work of our team and validates the trust our customers and host communities place in us. It motivates us to deepen our impact and continue investing in value creation and sustainable practices that strengthen the communities we serve.”

NBLA winners are selected using weighted criteria including innovation, service delivery, product quality, and financial performance.

The selection process is guided by a rigorous review conducted by BusinessDay’s Research & Intelligence Unit and the NBLA Awards Review Committee, ensuring that each recognition meets global standards of credibility and merit.

Founded in 1982 as a single fresh fruit and vegetable store, FoodCo has grown into a vital pillar of South-West Nigeria’s economy, employing over 2,000 people and serving as a critical route-to-market for SMEs by connecting local producers and suppliers to wider consumer markets.

With operations in retail, quick-service restaurants, manufacturing, and entertainment, FoodCo has been listed on the Financial Times annual ranking of Africa’s Fastest Growing Companies in 2022, 2023, and 2025.

FoodCo Nigeria, a Top 3 retailer and operators of the largest supermarket chain brand in south-west Nigeria, has been named the Best Retail Organisation for Range Excellence at the just concluded Africa Retail Awards (ARA) 2025.

The Awards, organised by the Africa Retail Congress of the Lagos Business School, recognises retailers offering a diverse and customer-centric product range that drives accessibility, innovation, and sustained business growth across markets.

Speaking at the event, Prof. Louis Nzegwu, Chairperson of the African Retail Congress 2025, said: “The Africa Retail Awards 2025 recognises and celebrates outstanding achievements across the retail sector. From established retail chains to innovative digital platforms, the awards highlight those driving growth, setting new standards, and transforming the way business is done in Africa. This ceremony is a testament to the talent, vision, and dedication shaping a stronger, smarter, and more inclusive retail sector across the continent.”

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Receiving the award on behalf of the company, Ade Sun-Basorun, the CEO of FoodCo who was represented by Ayodele Adio, stated that the recognition reinforces FoodCo’s leadership in driving modern retail growth and its continued relevance in shaping consumer access to quality products.

While thanking the organisers for the honour, Sun-Basorun continued, “Our approach to range development is rooted in data, market understanding, and customer insight. We are intentional about creating a retail environment where consumers can find what they need, at the right price point, and at consistent quality. This recognition affirms the strength of that strategy and its role in supporting business expansion within the sector. We see range excellence not just as a retail objective but as a contribution to improving access and choice for consumers across the markets we serve.”

Solomon Huesu, Marketing Manager, FoodCo, noted that, “Consumer needs are dynamic, and our responsibility is to anticipate and respond with relevance. This award underscores the effectiveness of our assortment strategy in driving customer satisfaction and supporting commercial performance. We are grateful to our customers whose continued trust guides our product decisions and keeps us accountable to the market. It is an encouragement to continue refining our product mix in ways that contribute to industry and economic growth.”

Stakeholders in Africa’s modern retail sector have been urged to prioritise digitisation, capacity building, skills exchange, and policy advocacy as critical levers for driving sustainable growth across the continent.

This charge was made by Ade Sun-Basorun, Chief Executive Officer of FoodCo Nigeria — a top-five retailer and operator of the largest supermarket chain brand in South-West Nigeria — during a courtesy visit by a delegation from the Africa Retail Academy (ARA), Africa’s largest community of retail experts and practitioners, to FoodCo’s head office in Ibadan.

Represented by Funmi Aiyepeku, Chief Commercial Officer, Sun-Basorun expressed optimism about the prospects of formal retail in Africa and commended ARA for galvanising stakeholders to advance the sector’s growth.

He said: “While modern retail is undergoing different stages of evolution across Africa, what we can all agree on is that there are huge opportunities to scale the sector. If critical players can leverage technology, innovation, and local intelligence to bridge existing gaps, we will begin to see the formal retail sector unlock its full potential and make meaningful contributions to the economy.”

Reaffirming FoodCo’s commitment to delivering world-class retail services across the value chain, Sun-Basorun pledged that the company would deepen collaboration with ARA, particularly in talent acquisition, development, and advocacy.

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In his remarks, Prof. Nzegwu, Head of Marketing at the Lagos Business School and Chairman of the 2026 ARA Congress, applauded FoodCo for over four decades of contributions to modern retail in Nigeria.

He also praised the company’s commitment to gender inclusivity, innovation, and customer service excellence, while stressing the importance of sustainable stakeholder collaboration to deepen local penetration and make the African retail market globally competitive.

Founded in 1982, FoodCo is a diversified consumer goods company with interests in retail, restaurants, manufacturing, and entertainment.

With 23 outlets and over 1,200 employees across Ibadan, Lagos, and Abeokuta, the company is a major contributor to the South-West Nigerian economy and a critical access-to-market channel for SMEs in the region.

FoodCo has also been listed in the Financial Times ranking of Africa’s Fastest Growing Companies in 2021, 2023, and 2024.

The Africa Retail Academy, an initiative of the Lagos Business School, hosts the annual Africa Retail Congress — an event that attracts over 5,000 retail stakeholders, including operators, academics, and investors, to deliberate on topical issues shaping the retail landscape in Africa.

FoodCo Nigeria, operators of the largest supermarket chain brand in the Southwest region, has emerged as the 2nd Fastest Growing Company in Africa – Retail Category – in the recently published Africa’s Fastest Growing Companies 2025 ranking.

The annual ranking, compiled by global business publication, Financial Times, in collaboration with data and analytics firm, Statista, placed FoodCo as the 21st fastest growing company in Nigeria and 66th overall. It also marks the third time the top retailer is making the list, having also made the 2022 and 2023 editions.

Financial Times disclosed that the list of 130 companies was ordered by the highest Compound Annual Growth in Revenues (CAGR) between 2020 and 2023.In his response, Ade Sun-Basorun, CEO of FoodCo, expressed appreciation to the organizers for the recognition.

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He also acknowledged the pivotal role of the company’s staff and customers in driving growth for the business. Sun-Basorun said, “We are deeply honored to be recognised for the third time on the Financial Times List of Africa’s Fastest Growing Companies. This long-running achievement is a testament to the dedication and hard work of the entire FoodCo team whose commitment has been central to our continued growth. We are also immensely grateful to our loyal customers for their trust and support, which have been key drivers to our success.

“FoodCo’s continued presence in the Africa’s Fastest Growing Companies ranking since inception in 2022 underlines our company’s commitment to delivering value, innovation and customer service excellence. This recognition not only highlights our growth but also supports our resolve to elevate the modern retail experience for over 237 million Nigerians. As we continue to build on our achievements, we remain focused on delivering greater value to our stakeholders and ensuring that we remain a leading player in modern retail in Nigeria and Africa.”

Established in 1982 as a fresh fruits and vegetable store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing, and entertainment.

The company has previously been listed twice in the Financial Times annual ranking of Africa’s Fastest Growing Companies for the years 2022 and 2023. FoodCo is a significant contributor to the economy of South-West Nigeria, providing employment for over 1,300 staff and offering critical access-to-market opportunities for small and medium-scale businesses.

Nigerian women have been advised to equip themselves with the relevant tools to help them navigate daily pressure effectively.

This was part of the discussions at a Women’s Health and Personal Effectiveness Conference organised by top retailer, FoodCo, to commemorate International Women’s Day 2025.

In her opening address, Funmi Aiyepeku, Chief Commercial Officer of the company, emphasised the pivotal role women play in building sustainable societies. She said: “Women are the bedrock of society given the critical roles they play in both birthing and nurturing the future generation. But beyond these, and the historic setbacks against them, they have also established themselves as change-makers, innovators, business leaders and home-makers. As a family brand, we recognise the many roles women juggle every day. That is why we organised this seminar to support them firstly, in their quest for personal fulfillment and, secondly, to function effectively in the roles they occupy.”

In her presentation, Dr. Nneka Asuai Iyonmahan, a medical officer at Reliance Health, emphasised the need for greater awareness and proactiveness in addressing the mental needs of women in Nigeria.

She stated: “The World Health Organisation (WHO) reports that one in four Nigerians suffer from some type of mental health issue but help is often hampered by budget constraints and lack of skilled staff. This state of affairs affects women especially because, as traditional caregivers and nurturers, they also face modern socio-economic demands. Many end up putting others first and neglecting their own needs. This is why today’s woman must build resilience by taking small intentional steps, setting realistic goals, celebrating achievements, prioritising self-care, and nurturing positive relationships to maintain emotional and mental well-being.”

Temilade Ogunniyi, a career development strategist, counselled women to look beyond productivity in defining personal or professional success, and embrace values in positive mindset shifts, leadership, healthy relationships, and resilience.

According to her: “Women play a vital role in driving progress, and personal effectiveness is key to ensuring that they thrive in their careers. It’s about building the right habits through clear, actionable steps. Small wins create lasting impact, consistency matters more than intensity and adapting to change is essential for success. By mastering one principle at a time and turning ideas into habits, women can thrive, break barriers, and lead with confidence.”

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 and has been listed in the Financial Times list of Africa’s Fastest Growing Companies for 2021 and 2022.

FoodCo, a Top 5 retailer in Nigeria, has announced the commencement of its 2025 Valentine’s Day promo, themed “Bundle of Love.”

The promo, which will run from February 12 – 16, 2025 across all of the company’s 22 outlets, will see lucky customers enjoy a luxury dining experience, special discounted meal bundles, and price slashes on numerous items across FoodCo brand stores.

Speaking on the promo, Ade Sun-Basorun, Managing Director of FoodCo, stated that the Bundle of Love campaign is geared towards enabling FoodCo customers tap into the excitement of the Valentine season to share fun moments and create memorable experiences with their loved ones. 

He said: “The Valentine season is special to us because it offers a unique opportunity for people and brands alike to demonstrate love to others. This year, we are running the Bundle of Love campaign which is a multi-faceted offering designed to connect with the unique needs of our  customers at different levels.

“Some key elements in the bouquet include: Capture the Love social media contest where customers can win N5000 worth of airtime daily, discounted meal bundles such as Padi Bundle for Individuals and Love Bundle for families, and the grand prize of an all-expensive paid dinner for two in the finest hotels in Ibadan, Lagos and Abeokuta. Added to the discounts on numerous items across all FoodCo stores, there’s something special for everyone.

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“As a foremost modern retailer in Nigeria, we appreciate the loyalty of our customers over the years and remain committed to exploring memorable experiences to foster stronger ties with them, of which this Valentine season provides a perfect opportunity.”

Established in 1982 as a fresh fruits and vegetable store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment.

The company has been twice listed in the Financial Times annual ranking of Africa’s Fastest Growing Companies.

FoodCo is a significant contributor to the economy of South-West Nigeria, providing employment for more than 1300 people and providing critical access-to-market opportunities for the small and medium scale sector.

FoodCo Nigeria Limited, a Top 5 retailer twice listed in the Financial Times list of Africa’s Fastest Growing Companies, has won the award for Retailer of the Year at the 2024 edition of the Nigerian Business Leadership Awards (NBLA).

The 2024 Awards, the fifth in the series, makes it the fourth time FoodCo would be walking away with the Retailer of the Year prize.

Speaking on the award, Frank Aigbogun, Publisher of BusinessDay title publications and organizers of the NBLA, stated that FoodCo’s recognition as Retailer of the Year for the fourth time is a testament to the company’s significant contributions to the Nigerian retail economy.

While commending the company for shaping the modern retail sector through homegrown innovation, transformative strategies and thought leadership, he called on FoodCo executives to continue to uphold the company’s differentiating edge of delivering exceptional service to stakeholders across the board.

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Speaking at the event, Funmi Aiyepeku, Chief Commercial Officer, FoodCo who was represented by Ayotunde Osintunga, Head of   Supply Chain, expressed appreciation to BusinessDay for the recognition.

S said: “We are deeply honored to receive the Retailer of the Year award for a record four times. In over four decades of operations, FoodCo has prioritised delivering quality while fostering an atmosphere of innovation and sustainability as the core drivers of our business. This award underscores our relentless commitment to providing exceptional retail experiences that continually cater to the evolving needs of the Nigerian consumer. In addition, it is a celebration of the hard work and dedication of our team towards delivering excellence time and time again, as well as proof of the unwavering trust and support of our customers.”

“This recognition inspires us to continue innovating and contributing to the growth of the Nigerian retail industry. We also reiterate our commitment to driving value and sustainability in business while creating meaningful impact in the communities we serve,” she added.

NBLA winners are selected based on a weighted average of key criteria, including innovation, service delivery, product quality and financial results. In cases where data is not publicly available, a discretionary valuation of assets and market share is applied to determine fair weights, ensuring a thorough and fair evaluation process.

FoodCo, a top 5 retailer and operator of the largest supermarket chain brand in South-West Nigeria outside Lagos, has commenced a School Support Drive to support vulnerable school children in its host communities.

The first phase of the program, which held recently, was targeted at Ibadan, the Oyo State capital where the company has its origins. Beneficiary schools were Methodist Primary School, Bodija and St. James Basic School, Oke Ado, where educational kits including school bags and writing materials were distributed to the pupils.  

Speaking during the event, Funmi Aiyepeku, Head of Innovation, Growth and Transformation at the company, stated that the School Support Drive is in line with the United Nations Sustainable Development Goal (SDG) 4 aimed at ensuring inclusive and equitable quality education for all.

She said: “We are delighted to announce the roll-out of the FoodCo School Support Drive, beginning with our home community in Ibadan. As a proudly home-grown company, FoodCo has always seen itself as a partner in the growth and progress of its host communities. That informs our continuous investment in opportunities that hold value for them and have a significant positive impact on their future sustainability.

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According to the United Nations, one out of every 5 Nigerian children is currently out of school. A key contributor to this is poverty and the lack of quality educational materials to enhance the learning experience for children. We are optimistic that as we embark on similar interventions in other vulnerable communities, it will help to attract more children into on the classrooms as well as improve the overall quality of learning within our communities.” 

Aiyepeku further stated that, “children, particularly those from vulnerable backgrounds, will continue to be at the centre of FoodCo’s CSR interventions. This is evident in some of our legacy programs including the FoodCo Annual Children’s Christmas Party and the now-rested Adegbenga Sun-Basorun Scholarship Scheme.”

Established in 1982 as a fresh fruits and vegetables store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. With 21 outlets spread across Oyo, Lagos and Ogun States, the company was listed in the Financial Times ranking of 100 Fastest Growing Companies in Africa for the years 2021 and 2022.