Nugeshi Supermarkets network becomes subsidiary of Nikora Trade

30 Sep. 2015

Daughter Company of JSC "Nikora", "Nikora Trade" became 100% shareholding owner of "Nugeshi".

In the results of the negotiations between two sides, 60% shareholder of "Nugeshi", Akaki Akhvlediani also became a shareholder of "Nikora" and other 40% of shares "Nikora" purchased from other small shareholding founders of the company for 6 544 500 GEL. 

"Our company operates with three trading brands, "Nikora Supermarket", "Nugeshi" and "Libre". For now and for the near future we do not expect any other changes. All three brands will have an opportunity to develop equally. We are actively engaged in the planning of new supermarkets opening in Tbilisi, as well as in other cities and large regional centers of Georgia. Accordingly, this three brands would be ableto increase the number of their trade points equally", says Chief Executive Office of "Nikora Trade", Davit Urushadze.

Characteristic low prices of "Nugeshi" will remain the same and the staff of the company will resume working as usual.

Currently, "Nikora Trade" produces up to 500 products and also realizes it itself. Up to 4000 people are employed by the company. In addition, 1377 people were employed by the company in 2009, which grew up to 3100 people in May 2015 and increased with 700 people from May to September. As for the company’s financial contribution to the state budget, it contributed 25 600 000 Georgian Laries (GEL).

"Nikora Trade" itself is the largest trading (supermarket) network on Georgian market, presented with 203 supermarkets, 63 of them is "Nugeshi" booth and 24 is "Nugeshi" supermarket.