What is foodco?

FoodCo Nigeria Limited is a consumer goods company. Established in 1982, it is a wholly-owned Nigerian business.¹ FoodCo operates the largest supermarket chain brand in southwest Nigeria, outside Lagos, with 13 stores spread across the region.²

In 2020, FoodCo launched an online supermarket. It also launched FoodCo Quick Shops, a chain of neighbourhood convenience shops offering basic groceries and household items.³

Most FoodCo outlets are co-located, combining supermarkets, restaurants, bakery, and entertainment centres.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. 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.⁶

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.⁷

FoodCo Supermarkets operate an online service that offers a full 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. 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.⁹

Currently, FoodCo restaurants are a key feature of the brand’s outlets.

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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 Fellowship Programme

FoodCo Fellowship Program (FFP) is a specialized capacity-building program aimed at building the next generation of business leaders to drive growth in the Nigerian consumer retail sector. The programme offers a 2-year immersive training in business management and leadership to MBA and post-graduate students looking to pursue a career in retail.¹²

Awards

Retailer of the year, 2020 Marketing Edge Brands and Advertising Excellence Awards¹³

Retail Company of the Year, 2020 BusinessDay Nigerian Business Leaders Awards¹⁴

Multigenerational Company of the Year, 2019 BusinessDay Nigerian Business Leadership Awards (Excellence in Enterprise).¹⁵

Best Bread in Africa, 2019 African Brand Congress.¹⁶

References

External links

Official website

Original source: foodco. Shared with Creative Commons Attribution-ShareAlike 3.0 License