Our Brands - Food Company

BRAND OVERVIEW

Food Concepts aim to create great value for money brands, with propositions that customers love. We do this by understanding what our customers want and need and by ensuring that we deliver on their expectations.

Our Brands, namely, Chicken Republic, PieXpress and The Chop Box are all proudly homegrown Nigerian brands, designed to meet the taste preferences, aspirations and budgets of West African consumers.

We make it our mission to provide excellent customer experiences, great tasting products and everyday affordable value meals, delivered via our clean, comfortable and convenient restaurant environments and our online channel.

Food Concepts only use quality ingredients, provided by local vendors and suppliers who comply with our quality standards and we support job creation for many others via our various brand building programmes.

Health, Safety and Consumer Protection are also of critical importance to Food Concepts, as evidenced by our ISO22000:2018 Certification in 2019, our recertification in 2020 and our latest ISO Certifications in 2021.

CHICKEN REPUBLIC

From our humble beginning in Lagos in 2004, until today, the Chicken Republic Brand story is one of many twists and turns. With this said, we have always remained true to our passion, and that is to share our food with people that LOVE our soulfully spiced chicken meals, flavoured with our unique blend of authentic West African herbs and spices.

We are presently trading in over 150 locations across Nigeria and Ghana, with plans to operate 430 restaurants by the end of 2024.

We are a proudly home-grown brand and we choose to spread the LOVE to all our customers through our committed staff as we continue our quest to let everyone TASTE THE LOVE.

Our “Taste the Love” philosophy encourages a passionate brand spirit as we set out to challenge the status quo by providing our customers with tasty, everyday affordable value meals from our clean, cool, ambient restaurants and our online delivery channel.

We deliver value to our customers, staff and shareholders by ensuring a clear focus on three key performance indicators which include:

People Development
Sales Growth & Profit Growth
Operational Excellence

Chicken Republic is a committed supporter of Nigerian production. Most of our products are sourced directly from local Nigerian suppliers.

Our philosophy is “People Capability Always”. We pride ourselves on being an equal opportunity employer, with a strong focus on creating opportunities for women and young adults.

As a Nigerian brand, facing challenges and overcoming obstacles is in our DNA. Our motto is, “happy, but never content”.

This quest for excellence, together with our committed staff, local partnerships and loyal customers has led us to be the fastest-growing, chicken-focused, quick-service restaurant chain in the country today.

For more information please visit www.chicken-republic.com

FRANCHISING OPPORTUNITIES

PIEXPRESS

Our PieXpress Brand caters for mobile, transient consumers who desire convenient, quality food on-the-go, at a price that satisfies both their “belle” and their pocket.

It has always been clear that the Nigerian consumers love flavour profiles and food types that resonate within their day-to-day lifestyle. The nostalgia associated with pies and pastries makes this a fast-moving category that is profitable and well loved by all age groups.

Since launching in 2019, PieXpress has proven to be a cost effective and profitable Brand that enhances our economies of scale via:

Better utilisation of our existing and new real estate – having the PieXpress stores in the Chicken Republic car parks allow us to really “sweat our assets”.
Minimal risk, as the concept can be moved easily from one location to another if the market dynamics are not right or change.
Low set up costs.
Ability to own the “Freshly Baked” value proposition within the QSR space”.

We currently operate over 70 PieXpress stores, with plans to bring this number to 247 by the end of 2024. We have also built 5 new Pie Production facilities and increased our footprint into 4 new states.

Last but not least, we are proud to announce that we have now introduced Renewable Energy Solutions for stand-alone stores.

THE CHOP BOX

It is no secret that to truly win in Africa is to win at the base of the pyramid. Every day, tens of millions of Nigerian consumers buy traditional meals from informal eateries around the country.

Moreover, every research study that we have undertaken shows strong customer demand for traditional Nigerian meals. However, we also know that these same consumers, regardless of their income or social status, are highly aspirational and have a strong propensity toward iconic, world-class brands.

Our newest creation, The Chop Box, is Food Concepts’ response to meeting these demands head-on.
It is still early days and at present, we only have one store, which we are currently using to prototype and refine our menu mix and value proposition.

As with PieXpress, The Chop Box enables us to enhance our economies of scale via:

Better utilisation of our existing and new real estate – having the PieXpress stores in the Chicken Republic car parks allow us to really “sweat our assets”.
Minimal risk, as the concept can be moved easily from one location to another if the market dynamics are not right or change.
Low set up costs.

This brand is also well suited to the implementation of renewable energy solutions and will enable us to explore interesting micro franchising concepts aimed at creating employment opportunities and ecosystems of value for grassroots entrepreneurs.

WORK WITH US – VIEW OPPORTUNITIES

Mr. Odunayo Olagundoye Educational & Professional Qualification: First degree in Engineering from Massachusetts Institute of Technology (MIT) (1969) \| Masters' degree from the prestigious MIT Sloan School of Management (1974) Date of Appointment: 9th February 2016 Committee Membership: Chairman	Biography/Experience: A banker by profession, Odunayo was the pioneer Managing Director/Chief Executive Officer of Chartered Bank Plc., and a former Managing Director of National Bank of Nigeria Plc (2000 - 2003). Prior to that, he was the General Manager/Chief Credit Officer of International Merchant Bank Plc (1975 - 1987). He holds a first degree in Engineering from Massachusetts Institute of Technology ("MIT") (1969) and a Masters'™ degree from the prestigious MIT Sloan School of Management (1974). He is currently the Chairman of Quantum Capital Management.
Mr. Kofi Abunu Educational & Professional Qualification: Bachelor of Arts degree in International Business and Marketing from the University of London, UK (1997) \| CIM, UK (1998) Date of Appointment: 7th March 2022 Committee Membership: Managing Director	Biography/Experience: Kofi has over 28 years international experience in management roles in the food and hospitality industry having previously worked with global brands such as McDonald's (UK), Nando’s, Steers (Ghana), and Innscor West Africa Limited (operators of multi-brand food court). He was head of Operations with their partnership with Exxon Mobil managing the ‘On the Run brand’. Kofi started with Food Concepts in 2007 as a GM for the Chicken Republic Brand. Over the years, he has operated in several African countries including Nigeria, South Africa & Ghana. His most recent appointment was from Divisional Managing Director - Business Development to Managing Director/CEO Food Concepts Plc which took effect from 7 March 2022.
Dr. Anthonia Agbonifo Educational & Professional Qualification: Graduate of accounting from Yaba College of Technology \|MBA with merit from the University of Liverpool UK \| Doctorate from European American University \| Fellow of ICA \| Fellow of IMC \| Chartered member of ICAN (2004) \| Member of NIM \| Diploma in IFRS from ACCA Date of Appointment: 28th March 2019 Committee Membership: Executive Director	Biography/Experience: Anthonia is a Chartered Accountant with over 20 years of experience in auditing, accounting, treasury, risk management, IFRS, finance, Sarbanes Oxley review, processes, and advisory services across numerous industries. Anthonia is an Institute of Chartered Accountants of Nigeria ("ICAN") prize winner and has attended numerous local and international training courses on leadership, management, taxation, auditing (IFRS, Nigerian & US GAAP), team management, Sarbanes Oxley, controls and is also a skilled facilitator. Anthonia has served on two key committees of the board of ICAN i.e. PPMC for five years and MAC for one year. Anthonia worked with Akintola Williams Deloitte and PriceWaterhouse Coopers in senior management functions. Anthonia joined Food Concepts Plc as the Group Chief Financial Officer in 2014 and is also the Divisional Managing Director of the International Finance and Shared Services Division.
Dr. Ikenna Okongwu Educational & Professional Qualification: Bachelor of Medicine & Bachelor of Surgery (MBBS) from the University of Jos (1991) \| Post Graduate Diploma in Human Resources from the Thames Valley University, UK (2001) \| Master’s in Management (MiM) from the Smurfit Business School in the University College Dublin Ireland (2011) Date of Appointment: 7th March 2022 Committee Membership: Executive Director	Biography/Experience: Ikenna is currently the Divisional Managing Director – Operations of Food Concepts Plc. He graduated as a Medical Doctor and has more than 25 years’ experience in the QSR industry, 18 of those in the United Kingdom and The Republic of Ireland. He worked as an Area Coach and Human Resources Manager in the United Kingdom with Yum Restaurants International (KFC) and as the Head of Operations in the Republic of Ireland with MBCC Foods Ltd (KFC Franchisee). In addition, Ikenna worked with KFC Nigeria as the Operations Leader prior to working with Food Concepts Plc. He was instrumental and led the growth of MBCC Foods in Ireland, and the turnaround and growth of the Food Concepts business in Nigeria.
Mr. Babatunde Fajemirokun Educational & Professional Qualification: Bachelors' degree in Business Economics from Glasgow, UK (2000) \| Business Information Strategy Master's degree (dist.) from University of Strathclyde (2002) \| MBA in Finance from University of Chicago Booth School of Business (2013). Chartered Insurer (ACII) Date of Appointment: 7th December 2016 Committee Membership:(i) Finance & General Purpose Committee. \| (ii) Remuneration & Corporate Governance Committee	Biography/Experience: Mr. Babatunde Fajemirokun is the Managing Director & CEO at AIICO Insurance Plc; a leading financial services group in Nigeria. Mr. Fajemirokun joined AIICO Insurance Plc, Life Insurance Division, as CIO in May 2009, and was responsible for value-enhancing projects in its maiden growth strategy, business process, and technology transformation projects. Prior to AIICO, he worked with Accenture, Lagos (2003-2007) and then Capgemini Consulting, UK (2008- 2009). In both roles, Babatunde provided consulting/advisory services to financial services and Government clients predominantly in mergers and acquisitions and then United Kingdom government transformation programmes. His experience spans across Management Consulting focused on strategy & technology-led change in Financial Institutions and Government; Insurance & Asset Management focused on strategy, retail and corporate insurance, insurance (actuarial) & investment risk management, process/ technology-led change, turnarounds, corporate finance, and corporate management.
Mr. Babacar Ka Educational & Professional Qualification: Bachelor of Science in Business Administration and Finance from the University of California (2003) \| MBA from the University of Oxford (2010) Date of Appointment: 26th September 2017 Committee Membership: (i) Audit Committee \| (ii) Remuneration & Corporate Governance Committee	Biography/Experience: Babacar is an investment principal at Development Partners International LLP with 19 years of finance and investment experience spanning private equity, debt investing and equity research. Prior to DPI, Babacar worked at Standard Bank Group in the UK and was an investment analyst in the Global Transaction Team at the IFC in Washington DC.
Mr. Marc Stoneham Educational & Professional Qualification: BA (Hons) in Modern History from the University of Oxford (1st class) (2003) \|MBA from INSEAD (Dean's List) (2010) Date of Appointment: 26th September 2017 Committee Membership: (i) Finance & General Purpose Committee \| Remuneration & Corporate Governance Committee	Biography/Experience: Marc worked at McKinsey & Company serving African and other emerging market clients across multiple industries and functions, with a focus on natural resources. Prior to McKinsey, Marc worked in private equity at Actis and Kingdom Zephyr, and for Accenture strategy consulting.
Mr. Adefolarin Ogunsanya Educational & Professional Qualification: BSc (Hons) in Computer Engineering from NJIT (2007) \| MBA in Finance and Entrepreneurial Management from The Wharton School, University of Pennsylvania (2014) Date of Appointment: 26th September 2017 Committee Membership: (i) Finance & General Purpose Committee \| (ii) Audit Committee \| (iii) Remuneration & Corporate Governance Committee	Biography/Experience: Adefolarin is an investment professional at Development Partners International LLP with over 13 years of experience in investment banking and private equity. Prior to DPI, Folarin was an investment professional at Helios Investment Partners and an investment banker at Credit Suisse in New York. He has experience in Corporate Finance, capital allocation and Strategy.
Mrs. Yemisi Akinbo Educational & Professional Qualification: BSc degree in Accounting from the University of Lagos (1999) \| MBA from the London Business School (2015) \| Associate of the Institute of Chartered Accountants of Nigeria Date of Appointment: 29th September 2021 Committee Membership: (i) Finance & General Purpose Committee \| (ii) Audit Committee	Yemisi is a seasoned finance and investment professional with over 20 years’ experience in banking, asset management and private equity. She is currently a Principal at African Capital Alliance (ACA) where she is responsible for overseeing investments in the consumer goods sector. At ACA, she was previously the Head of the Investor Management and Fund Administration function. Prior to joining ACA, Yemisi worked with the First City Group, a leading financial services group in Nigeria. Yemisi has a BSc. degree in Accounting from the University of Lagos (1999) and an MBA from the London Business School (2015). She is also an Associate of the Institute of Chartered Accountants of Nigeria.
Mr. Benjamin Dabrah Educational & Professional Qualification: BSc degree in Land Economy from the Kwame Nkrumah University of Science and Technology, Ghana (1999) \| BSc degree in Financial Services from the University of Manchester, UK (2006) \| MSc in Public Policy Economics from the University of Hull, UK (2001) Date of Appointment: 29th September 2021 Committee Membership: (i) Remuneration & Corporate Governance Committee

Mr. Odunayo Olagundoye Educational & Professional Qualification: First degree in Engineering from Massachusetts Institute of Technology (MIT) (1969) \| Masters' degree from the prestigious MIT Sloan School of Management (1974) Date of Appointment: 9th February 2016 Committee Membership: Chairman	Biography/Experience: A banker by profession, Odunayo was the pioneer Managing Director/Chief Executive Officer of Chartered Bank Plc., and a former Managing Director of National Bank of Nigeria Plc (2000 - 2003). Prior to that, he was the General Manager/Chief Credit Officer of International Merchant Bank Plc (1975 - 1987). He holds a first degree in Engineering from Massachusetts Institute of Technology ("MIT") (1969) and a Masters'™ degree from the prestigious MIT Sloan School of Management (1974). He is currently the Chairman of Quantum Capital Management.
Mr. Kofi Abunu Educational & Professional Qualification: Bachelor of Arts degree in International Business and Marketing from the University of London, UK (1997) \| CIM, UK (1998) Date of Appointment: 7th March 2022 Committee Membership: Managing Director	Biography/Experience: Kofi has over 28 years international experience in management roles in the food and hospitality industry having previously worked with global brands such as McDonald's (UK), Nando’s, Steers (Ghana), and Innscor West Africa Limited (operators of multi-brand food court). He was head of Operations with their partnership with Exxon Mobil managing the ‘On the Run brand’. Kofi started with Food Concepts in 2007 as a GM for the Chicken Republic Brand. Over the years, he has operated in several African countries including Nigeria, South Africa & Ghana. His most recent appointment was from Divisional Managing Director - Business Development to Managing Director/CEO Food Concepts Plc which took effect from 7 March 2022.
Dr. Anthonia Agbonifo Educational & Professional Qualification: Graduate of accounting from Yaba College of Technology \|MBA with merit from the University of Liverpool UK \| Doctorate from European American University \| Fellow of ICA \| Fellow of IMC \| Chartered member of ICAN (2004) \| Member of NIM \| Diploma in IFRS from ACCA Date of Appointment: 28th March 2019 Committee Membership: Executive Director	Biography/Experience: Anthonia is a Chartered Accountant with over 20 years of experience in auditing, accounting, treasury, risk management, IFRS, finance, Sarbanes Oxley review, processes, and advisory services across numerous industries. Anthonia is an Institute of Chartered Accountants of Nigeria ("ICAN") prize winner and has attended numerous local and international training courses on leadership, management, taxation, auditing (IFRS, Nigerian & US GAAP), team management, Sarbanes Oxley, controls and is also a skilled facilitator. Anthonia has served on two key committees of the board of ICAN i.e. PPMC for five years and MAC for one year. Anthonia worked with Akintola Williams Deloitte and PriceWaterhouse Coopers in senior management functions. Anthonia joined Food Concepts Plc as the Group Chief Financial Officer in 2014 and is also the Divisional Managing Director of the International Finance and Shared Services Division.
Dr. Ikenna Okongwu Educational & Professional Qualification: Bachelor of Medicine & Bachelor of Surgery (MBBS) from the University of Jos (1991) \| Post Graduate Diploma in Human Resources from the Thames Valley University, UK (2001) \| Master’s in Management (MiM) from the Smurfit Business School in the University College Dublin Ireland (2011) Date of Appointment: 7th March 2022 Committee Membership: Executive Director	Biography/Experience: Ikenna is currently the Divisional Managing Director – Operations of Food Concepts Plc. He graduated as a Medical Doctor and has more than 25 years’ experience in the QSR industry, 18 of those in the United Kingdom and The Republic of Ireland. He worked as an Area Coach and Human Resources Manager in the United Kingdom with Yum Restaurants International (KFC) and as the Head of Operations in the Republic of Ireland with MBCC Foods Ltd (KFC Franchisee). In addition, Ikenna worked with KFC Nigeria as the Operations Leader prior to working with Food Concepts Plc. He was instrumental and led the growth of MBCC Foods in Ireland, and the turnaround and growth of the Food Concepts business in Nigeria.
Mr. Babatunde Fajemirokun Educational & Professional Qualification: Bachelors' degree in Business Economics from Glasgow, UK (2000) \| Business Information Strategy Master's degree (dist.) from University of Strathclyde (2002) \| MBA in Finance from University of Chicago Booth School of Business (2013). Chartered Insurer (ACII) Date of Appointment: 7th December 2016 Committee Membership:(i) Finance & General Purpose Committee. \| (ii) Remuneration & Corporate Governance Committee	Biography/Experience: Mr. Babatunde Fajemirokun is the Managing Director & CEO at AIICO Insurance Plc; a leading financial services group in Nigeria. Mr. Fajemirokun joined AIICO Insurance Plc, Life Insurance Division, as CIO in May 2009, and was responsible for value-enhancing projects in its maiden growth strategy, business process, and technology transformation projects. Prior to AIICO, he worked with Accenture, Lagos (2003-2007) and then Capgemini Consulting, UK (2008- 2009). In both roles, Babatunde provided consulting/advisory services to financial services and Government clients predominantly in mergers and acquisitions and then United Kingdom government transformation programmes. His experience spans across Management Consulting focused on strategy & technology-led change in Financial Institutions and Government; Insurance & Asset Management focused on strategy, retail and corporate insurance, insurance (actuarial) & investment risk management, process/ technology-led change, turnarounds, corporate finance, and corporate management.
Mr. Babacar Ka Educational & Professional Qualification: Bachelor of Science in Business Administration and Finance from the University of California (2003) \| MBA from the University of Oxford (2010) Date of Appointment: 26th September 2017 Committee Membership: (i) Audit Committee \| (ii) Remuneration & Corporate Governance Committee	Biography/Experience: Babacar is an investment principal at Development Partners International LLP with 19 years of finance and investment experience spanning private equity, debt investing and equity research. Prior to DPI, Babacar worked at Standard Bank Group in the UK and was an investment analyst in the Global Transaction Team at the IFC in Washington DC.
Mr. Marc Stoneham Educational & Professional Qualification: BA (Hons) in Modern History from the University of Oxford (1st class) (2003) \|MBA from INSEAD (Dean's List) (2010) Date of Appointment: 26th September 2017 Committee Membership: (i) Finance & General Purpose Committee \| Remuneration & Corporate Governance Committee	Biography/Experience: Marc worked at McKinsey & Company serving African and other emerging market clients across multiple industries and functions, with a focus on natural resources. Prior to McKinsey, Marc worked in private equity at Actis and Kingdom Zephyr, and for Accenture strategy consulting.
Mr. Adefolarin Ogunsanya Educational & Professional Qualification: BSc (Hons) in Computer Engineering from NJIT (2007) \| MBA in Finance and Entrepreneurial Management from The Wharton School, University of Pennsylvania (2014) Date of Appointment: 26th September 2017 Committee Membership: (i) Finance & General Purpose Committee \| (ii) Audit Committee \| (iii) Remuneration & Corporate Governance Committee	Biography/Experience: Adefolarin is an investment professional at Development Partners International LLP with over 13 years of experience in investment banking and private equity. Prior to DPI, Folarin was an investment professional at Helios Investment Partners and an investment banker at Credit Suisse in New York. He has experience in Corporate Finance, capital allocation and Strategy.
Mrs. Yemisi Akinbo Educational & Professional Qualification: BSc degree in Accounting from the University of Lagos (1999) \| MBA from the London Business School (2015) \| Associate of the Institute of Chartered Accountants of Nigeria Date of Appointment: 29th September 2021 Committee Membership: (i) Finance & General Purpose Committee \| (ii) Audit Committee	Yemisi is a seasoned finance and investment professional with over 20 years’ experience in banking, asset management and private equity. She is currently a Principal at African Capital Alliance (ACA) where she is responsible for overseeing investments in the consumer goods sector. At ACA, she was previously the Head of the Investor Management and Fund Administration function. Prior to joining ACA, Yemisi worked with the First City Group, a leading financial services group in Nigeria. Yemisi has a BSc. degree in Accounting from the University of Lagos (1999) and an MBA from the London Business School (2015). She is also an Associate of the Institute of Chartered Accountants of Nigeria.
Mr. Benjamin Dabrah Educational & Professional Qualification: BSc degree in Land Economy from the Kwame Nkrumah University of Science and Technology, Ghana (1999) \| BSc degree in Financial Services from the University of Manchester, UK (2006) \| MSc in Public Policy Economics from the University of Hull, UK (2001) Date of Appointment: 29th September 2021 Committee Membership: (i) Remuneration & Corporate Governance Committee

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