FoodCo Wins Multigenerational Company Of The Year

FoodCo Nigeria Limited, a diversified consumer goods company with interests in retail, quick-service restaurants, manufacturing and entertainment has been named the Multigenerational Company of the Year at the inaugural Nigerian Business Leadership Awards held in Lagos recently.

Frank Aigbogun, Publisher, BusinessDay Media Ltd, organizers of the Awards, stated that FoodCo’s commitment to excellence in enterprise and commendable growth profile across successive generations of leadership were key factors that stood the company out.

According to him: “The selection of FoodCo Nigeria Limited for this award is in consideration of the ability of successive leaderships of the company to steer it towards greater levels of success. This is an uncommon feat in Nigeria where many enterprises do not survive the first generation. Despite the challenges prevalent in the Nigerian environment, FoodCo has maintained a strong market position and profitability, and is currently making entry into new regions.”

“We are particularly impressed at the impact the company is making both in terms of job creation and innovation, especially in the Nigerian retail space. FoodCo is a shining example for homegrown brands seeking to make the transition into corporate institutions and we congratulate them for this milestone accomplishment,” he added.

Ade Sun-Basorun, CEO-designate, FoodCo Nigeria Limited, expressed gratitude to the organizers for the recognition.

He said: “This award means a lot to the FoodCo team. Since inception 37 years ago, we have maintained a consistent focus on investing in people and in our communities. This enduring vision has helped harmonize the efforts of successive generations of the company’s leadership in becoming a responsible corporate citizen and reliable partner to our various stakeholders.

“We are grateful for the recognition and we thank the organizers of the Awards for their commitment towards promoting initiatives that enshrine the values of corporate governance and sustainability thinking among Nigerian businesses.”

Established in 1982 as a fresh fruits stall in Bodija, Ibadan, Oyo State, FoodCo expanded its operations to include supermarket chain, quick service restaurants, manufacturing, and entertainment. With over 500 staff and eight outlets spread across the region, FoodCo Supermarket is currently ranked among the Top-10 National Supermarket Chains in Nigeria and No.1 Supermarket Chain in Ibadan, according to National Consumer Brands. It is also the largest supermarket chain in South West Nigeria, outside Lagos.

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Henry Omafodezi

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