The acquisition represents an expansion of Ringier Africa’s portfolio beyond publishing and digital marketing in Nigeria and Silvertree’s first e-commerce investment in the country
LAGOS, Nigeria, March 23, 2016/ -- Ringier Africa Deals Group (http://www.Ringier.com/en/
DealDey Co-CEOs Kehinde Oriola & Etop Ikpe say: "The DealDey team is excited about joining forces with the newly-formed Ringier Africa Deals Group. It offers great opportunities as DealDey brings a wealth of experience in technology, merchant management and consumer behaviour in Nigeria - and we will be leveraging the Ringier Africa portfolio in marketing, classifieds and media as well as Silvertree’s e-commerce expertise towards supporting the sustainable growth of the group."
Kehinde Oriola will continue as the CEO of DealDey as part of RADG, while Etop Ikpe will be moving on to new ventures. As acting CEO of RADG, Damien Bonnabel, current Head of e-Commerce for Ringier Africa and General Manager of Ringier Kenya, will be working with the management of DealDey and the group’s other companies.
Ringier Africa Deals Group (RADG), the purchasing holding company, has been created by a carve out of the leading Kenyan online deals business Rupu (https://www.rupu.co.ke) out of Ringier Kenya and of the leading Ghanaian online deals platform Tisu (http://www.tisu.com.gh) out of Ringer Ghana. The JV’s partners, Ringier Africa and Silvertree, both come with 10+ years’ e-commerce experience. Their mutual aim is to lead the online deals businesses to continued success based on a long-term, joint plan. Key to this is the continued collaboration with local merchants and brands wanting to enter the markets - while satisfying clients’ needs for the best service and product offers online. Silvertree has already expanded its own e-commerce portfolio in South Africa, having acquired PriceCheck (http://www.pricecheck.co.za)
Ringier Africa General Manager Leonard Stiegeler says: “Ringier Africa has identified e-commerce as a key area for growth and we are excited by the inclusion of DealDey in the Ringier Africa Deals Group. With the addition of e-commerce-experienced Silvertree (http://silvertree.holdings)
Silvertree Co-Managing Director Paul Cook says: "We are extremely excited to be entering three of Africa's most exciting e-commerce markets, through our partnership with Ringier and joint investment into DealDey, Rupu and Tisu. Through this deal, we get to build on excellent existing platforms as we look to serve Africa's emerging middle class. With Ringier's deep content expertise and African footprint, we look forward to further accelerating the growth of these exciting businesses. Our focus will be on rapid but sustainable growth, as Africa's e-commerce industry starts to mature and consumers look for world-class offerings, excellent customer service and great deals."
Distributed by APO (African Press Organization) on behalf of Ringier AG.