JOHANNESBURG – Massmart, which owns Makro and Game, has sold its Rhino and Cambridge food businesses to Shoprite Checkers for R1. 36-billion.
What did Shoprite buy from Massmart?
Massmart announced the sale in August, with Shoprite to acquire 56 Cambridge Food and Rhino stores and Massfresh — which comprises The Fruitspot and a meat processing facility — as well as 12 Cash & Carry stores.
Is Massmart being sold?
In a R6. 4 billion deal, Walmart is offering to buy out minority shareholders of Massmart. The US retail giant says the company’s turnaround plan will lead to more losses in the short term. Mitch Slape will step down as CEO at the end of the year.
Did Shoprite buying Cambridge?
The acquisition means that Shoprite will get the Cambridge Food business and Rhino Cash and Carry business (56 grocery stores plus 43 adjacent alcohol retail stores). It also gains 12 Masscash cash and carry stores and four Fruitspot Massfresh Meat facilities. In total it is 113 stores.
Who is buying Massmart?
Walmart
Coupled with the opportune timing given the weak rand to dollar exchange rate – Walmart would pay roughly $370 million (R6. 4 billion) for the transaction – and you begin to understand the move to purchase Massmart.
Who is Makro owned by?
Massmart Holdings Limited
Massmart Holdings Limited (JSE: MSM) is a South African firm that owns local brands such as Game, Makro, Builder’s Warehouse and CBW. It is the second-largest distributor of consumer goods in Africa, the largest retailer of general merchandise, liquor and home improvement equipment and wholesaler of basic foods.
Which companies are owned by Shoprite?
Shoprite Holdings Ltd comprises the following entities: the Shoprite Checkers supermarket group, which consists of 380 Shoprite supermarkets; 132 Checkers supermarkets; 24 Checkers Hypers; 148 Usave stores; 20 distribution centres supplying group stores with groceries, non-foods and perishable lines; 199 OK Furniture
What is Walmart called in Africa?
Massmart
Massmart is an African retail group that owns brands such as Game, Makro, Builders, Cambridge Foods and more. We have leading market shares in the general merchandise, liquor, home improvement and wholesale food markets in the retail and wholesale stores we operate.
What is Walmart called in Nigeria?
Massmart
Massmart has six outlets in Nigeria. The new stores will be the first Walmart stores in Nigeria.
Is there a Walmart in Nigeria Africa?
No, there is no Walmart in Nigeria but we do have some similar standard retail outlet like SPAR Nigeria, Shoprite and some other nice supermart..
Is Checkers owned by ShopRite?
Norman Herber, the chair of Greatermans department stores, was the founder of Checkers. The firm was later expanded and made successful by Raymond Ackerman. The Checkers supermarket chain is part of the Shoprite Group.
Is ShopRite changing their name?
Bowl & Basket and Paperbird products are tailored to our shoppers and based on what they told us they want and need — incredible quality at affordable prices.” ShopRite’s existing ShopRite, ShopRite Kitchen, ShopRite Trading Company and Cape Gourmet food brands will convert over time to Bowl & Basket and Paperbird.
Did ShopRite buy Checkers?
The Shoprite Group of companies was established when PEP Stores purchased a small grocery company with eight stores from the Rogut family in 1979. In 1990 Shoprite opened in Namibia. In 1991, it acquired the national Checkers chain.
Why did Walmart buy Massmart?
Taking Massmart private may help Walmart cut costs and invest in the company that owns brands including Makro and Builders without the scrutiny that comes with being a public company, it said.
How much did Walmart pay for Massmart?
The world’s biggest retailer had acquired a 51% stake in Massmart in 2010 for $2.3 billion, an investment that was seen as an outlay to use South Africa as a base to grab a share of the so-called ‘Africa growth story.
Is Massmart pulling out of South Africa?
In December 2021, Massmart announced it was looking to sell its loss-making stores in East Africa and 15 stores in SA that were unprofitable. It has not found buyers for any of the stores and has already closed seven in SA, with the remaining eight are being shuttered.
What happened to Makro?
Makro is now part of the Booker Group. To make our application process more efficient your request will be processed by Booker, therefore you are now being redirected to the Booker site. Please select the Makro store you are looking to join to ensure your application is sent to the correct store.
What happened at Makro?
The mega-store has been closed since the unrest in July, when the company’s property and goods were damaged, including the theft of the store’s solar panels in the parking area.
Which is the biggest Makro in South Africa?
Retail giant Makro has opened a massive new flagship store in Riversands, north of Fourways in Johannesburg. The store measures 23,263m² in size and is modeled more on a department store instead of the more accustomed Makro warehouse.
Who is the rightful owner of Shoprite?
Shoprite Holdings is not the only company Mr Wiese owns. In fact, Shoprite is just one department of his retail business. He owns Pepkor a renowned South Africa-based retail investment holding company that deals mainly in low-price markets, primarily selling textiles, clothing and footwear.
Is Shoprite black owned?
ShopRite owner Jeff Brown forms partnerships with Philadelphia’s Black-owned food businesses: ‘We’d like to try new things and we like local stuff. ‘ Jeff Brown, who has 12 markets in the region, has a novel arrangement with entrepreneurs, primarily people of color.