Tayo Amusan

Tayo Amusan (born 24 September 1957) is a Nigerian entrepreneur, Founder, Chairman and Managing Director of Persianas Group with a number of subsidiaries in diverse sectors including The Palms Shopping Malls and Persianas Property, a luxury property development firm.[1] In 2021, Amusan through investment company Ketron (a group of investors which Persianas is a part of) led the acquisition of Retail Supermarkets Nigeria Limited, a subsidiary of South African food retailer, ShopRite.[2][3] Amusan is the Chairman of Resourcery Limited.[4]

Businesses

Persianas Group

Amusan established his first company Persianas Group in 1990 with focus in real estate development. The company builds luxury residential homes for high-net-worth individuals, retail, entertainment and hospitality centres across Nigeria. The business is co-managed with his wife, Ayo Amusan.[5]

The Palms Shopping Mall

Following his success in real estate development, Amusan in 2004, expanded his business and diversified to retailing when he built The Palms Shopping Mall considered Nigeria’s first shopping mall of international standard. The Palms Shopping Mall is built on a 45,000-square-metre (11-acre) plot of land with 21,000 square metres (5 acres) of lettable retail space situated in Lekki Peninsula, Lagos. The Palms Shopping Mall has 69 stores and a six-screen cinema with a parking space for about 1000 cars. Notable tenants at The Palms Shopping Mall include South African retail outlets  Game, ShopRite and Viva Cinemas.[6] After the opening of The Palms Shopping Mall in 2005, other malls were opened in the cities of Ibadan, Enugu, Abuja and Kwara and later housed franchises such as Hugo Boss, Lacoste, Puma, Nike, MAC and Sony.

ShopRite acquisition

In June 2021, Amusan led the acquisition of Shoprite Nigeria through Ketron Investment Limited (a group of investors which Persianas is a part of) after beating two other foreign bidders.[7] Though details of the deal were never made public, it was reported that ShopRite Holdings will continue to support the business even as it retains the brand name.[8][9]

References
  1. editor (2021-04-25). "New Lease of Life for Billionaire Businessman Tayo Amusan…to Buy Shoprite". THISDAYLIVE. Retrieved 2021-06-23.CS1 maint: extra text: authors list (link)
  2. "Tayo Amusan and Shoprite leaving Nigeria - wetin we know". BBC News Pidgin. Retrieved 2021-06-23.
  3. Reuters Staff (2021-04-14). "Persianas to buy Shoprite's Nigerian business, sources say". Reuters. Retrieved 2021-06-23.
  4. Fakoyejo, Olalekan (2021-06-07). "Shoprite name might change as Nigerian billionaire assume total control". Legit.ng - Nigeria news. Retrieved 2021-06-23.
  5. "Tayo & Ayo Amusan are part of the BoF 500". The Business of Fashion. Retrieved 2021-06-23.
  6. Perkins, Njera (2021-04-20). "Billionaire Businessman Tayo Amusan Set To Purchase Shoprite's Stake In Nigeria". AfroTech. Retrieved 2021-06-23.
  7. editor (2021-06-02). "Ketron Investment Completes Acquisition of Shoprite". THISDAYLIVE. Retrieved 2021-06-23.CS1 maint: extra text: authors list (link)
  8. Dludla, Nqobile (2021-06-02). "UPDATE 2-South Africa's Shoprite sells Nigerian business to local firm Ketron". Reuters. Retrieved 2021-06-23.
  9. "Nigerian firm completes acquisition of Shoprite". The Guardian Nigeria News - Nigeria and World News. 2021-06-02. Retrieved 2021-06-23.
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