FoodCo

Last updated
FoodCo Nigeria Limited
IndustryRetail
Founded1982
Headquarters Ibadan
Area served
Nigeria
ProductsBakery, grocery, produce, bulk foods, snacks, health and beauty products, general merchandise
Services
Website Online Shop Corporate Site

FoodCo Nigeria is a Nigeria-based retailer. The company owns the largest supermarket chain brand in southwest Nigeria, outside Lagos, with 18 stores spread across the region. [1] [2]

Contents

It also launched FoodCo Quick Shops, a chain of convenience shops offering basic groceries and household items in 2020. [3]

In 2022, FoodCo was listed in the inaugural Financial Times Annual Africa Fastest Growing Companies' ranking, becoming the only company operating within Nigeria's organized retail sector to make the list. [4]

History

FoodCo originally started as a fresh fruit and vegetable store in 1981, but expanded into a supermarket a year later. [5] The first FoodCo Supermarket was opened in Bodija, Ibadan. [6] Subsequently, the business grew to include quick-service restaurants, manufacturing and entertainment. The business has now grown from that single branch to several branches with over 700 staff. The first Lagos outlet was opened in 2019. Just in 2020, her son Ade Sun-Basorun stepped in as chief executive officer of FoodCo Nigeria Limited, while she assumed the position of chairman. [7]

FoodCo Supermarkets

FoodCo Supermarkets is the biggest supermarket chain in southwest Nigeria, outside Lagos. It is also the oldest among the top 10 supermarket chains in Nigeria. [8]

FoodCo Supermarkets operates an online service that offer a stock range similar to the physical stores. The supermarkets are complemented by a home delivery service launched in 2020. [8]

FoodCo Restaurants

FoodCo is a Quick Service Restaurant (QSR) in Nigeria. [9] It started as a popular hangout where people could get pastries such as doughnuts, meat pies and chicken pies in the 80s and 90s in Ibadan. Over the years, the business evolved into quick-service restaurants. [10]

Currently, FoodCo restaurants are a feature of the brand's outlets. [10]

FoodCo Entertainment Centre

FoodCo Entertainment Centre offers gaming, indoor and recreational sports facilities. In 2019, the Entertainment Centre hosted the inaugural FoodCo Football Videogame Championship, with over 240 contestants participating in the competition. [11]


FoodCo Products

FoodCo's manufacturing department produces a range of products under the SunFresh brand. In 2019, the company introduced its Sunfresh range of ice creams into the market. [12]

In 2021, it expanded its product portfolio with the launch of SunFresh table water. [13] In 2022, FoodCo's SunFresh Bread was recognized as Africa's Most Outstanding Quality Bread Brand by the African Quality Congress.

Awards

Africa's Second Fastest Growing Retail Company, 2022 FT Annual Africa Fastest Growing Companies. [4]

Retailer of the year, 2020 Marketing Edge Brands and Advertising Excellence Awards [14]

Retail Company of the Year, 2020 BusinessDay Nigerian Business Leaders Awards [15]

Multigenerational Company of the Year, 2019 BusinessDay Nigerian Business Leadership Awards (Excellence in Enterprise). [16]

Best Bread in Africa, 2019 African Brand Congress. [17]

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References

  1. ↑ "FoodCo Rewards Customers with Festival of Savings Promo". This Day. July 14, 2021. Retrieved 7 September 2021.
  2. ↑ "FoodCo launches 18th Outlet In Ibadan – THISDAYLIVE". www.thisdaylive.com. Retrieved 2023-03-05.
  3. ↑ Obi, Daniel (2020-08-25). "Consumer goods retailer, FoodCo unveils Quick Shop convenience stores". Businessday NG. Retrieved 2023-03-05.
  4. 1 2 "FoodCo listed as Africa's second fastest growing retail company". The Guardian Nigeria News - Nigeria and World News. 2022-05-13. Retrieved 2023-03-05.
  5. ↑ Kemmy, Funmy. "MEET THE CEO, FOODCO PLC, MRS SOLA-SUN BASHORUN" . Retrieved 2021-09-07.
  6. ↑ "FoodCo Celebrates 39th Anniversary – THISDAYLIVE". www.thisdaylive.com. Retrieved 2023-03-05.
  7. ↑ "After ruling Ibadan for 3 decades, FoodCo opens first Lagos branch in Lekki". Newspeakonline. 2019-10-12. Retrieved 2021-09-07.
  8. 1 2 "How FoodCo is adapting to Nigeria's evolving retail sector". How we made it in Africa. 2020-09-24. Retrieved 2021-09-07.
  9. ↑ "How modern retail boom is stimulating economic growth". The Guardian Nigeria News - Nigeria and World News. 2022-06-19. Retrieved 2023-03-05.
  10. 1 2 "Why it took us 37 years to come to Lagos —CEO, FoodCo, Sun-Basorun". Tribune Online. 2019-10-14. Retrieved 2021-09-07.
  11. ↑ "Over 240 participants battle for FoodCo Football Video Game Championship". Pulse Nigeria. 2019-07-19. Retrieved 2021-09-07.
  12. ↑ "FoodCo Announces Launch of Sunfresh Ice Cream Range – THISDAYLIVE". www.thisdaylive.com. Retrieved 2023-03-05.
  13. ↑ Okeke-Korieocha, Ifeoma (2021-12-24). "FoodCo expands product portfolio with launch of Sunfresh premium table water". Businessday NG. Retrieved 2023-03-05.
  14. ↑ "FoodCo emerges retailer of the Year". Vanguard News. 2020-11-17. Retrieved 2021-09-07.
  15. ↑ "Foodco emerges Retail Company of the Year in Nigeria Business Leadership awards". Businessday NG. 2021-01-05. Retrieved 2021-09-07.
  16. ↑ "Firm bags multi-generational company award". Punch Newspapers. 2019-08-14. Retrieved 2021-09-07.
  17. ↑ "Foodco Sunfresh Bread bags continental recognition". Businessday NG. 2019-09-03. Retrieved 2021-09-07.
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