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. As of 31 January 2018, Massmart operated 424 stores in South Africa and 12 other Sub-Saharan countries. Its head offices are in the Massmart House in Sandton, City of Johannesburg Metropolitan Municipality.
Video Massmart
History
Massmart was founded in 1990, beginning with the acquisition of six Makro stores. It listed on the JSE Limited on 4 July 2000 at R12.50 per share. Since its founding, Massmart has grown both organically and by acquisition. The firm acquisition history includes:
- 990 Shield members in March 1992
- 420 Dion stores in May 1993
- 814 CCW stores in June 1998
- 26 Game stores in July 1998
- 6 Jumbo stores in April 2001
- 122 Browns and Weirs stores in July 2002
- 69 Builders Warehouse stores in October 2011
- 13 De Lay Rey stores, 14 Servistar stores, and 34 Federated Timber stores in June 2005
- 16 Cambridge Food stores in December 2008
- 43 Buildrite stores in June 2009
- In December 2011 South Africa's Competition Tribunal approved the acquisition, with conditions, of Fruitspot (wholesaler of fresh fruits and vegetables) and the Rhino Group.
Maps Massmart
Divisions
Massmart's stores are organized into 4 divisions. The stores included in each division are as follows:
- Massdiscounters
- DionWired (operates in South Africa)
- Game (operates in South Africa, Botswana, Ghana, Malawi, Mozambique, Namibia, Nigeria, Tanzania, Uganda, Zambia and Kenya - beginning May 2015)
- Masswarehouse
- Makro (operates in South Africa, two stores in Zimbabwe were sold in fiscal year 2011)
- The Fruitspot (operates in South Africa)
- Massbuild
- Builders Warehouse (operates in South Africa, Botswana and Mozambique)
- Builders Express (operates in South Africa)
- Builders Trade Depot (operates in South Africa and Mozambique)
- Builders Superstore (operates in South Africa)
- Kangela (operates in Mozambique)
- Masscash
- CBW (operates in South Africa, Botswana, Lesotho, Mozambique, Namibia, and Swaziland)
- Jumbo Cash and Carry(operates in South Africa and Botswana)
- Trident (operates in Botswana)
- Cambridge Food (operates in South Africa)
- Shield (operates in South Africa, Botswana, Lesotho, Namibia, and Swaziland)
Walmart acquisition
In November 2010, Walmart, the American super chain conglomerate made a bid to acquire majority shareholding (51%), in Massmart. At that time, the offer was valued at approximately R:17 billion (approximately US$2.54 billion or ?1.54 billion). On 18 January 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share. The South African Competition Commission Tribunal gave its approval of the acquisition of 51% of the firm in May 2011. Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.
In August the South African ministries of trade and industry, economic development and agriculture and fisheries lodged an appeal to the decision of the Competition Tribunal's decision to allow the merger with minimal conditions, this follows an appeal filed earlier by SACCAWU, a local labor union. In March 2012 the appeals court dismissed the case by the governmental ministries, but acknowledged that there were legitimate concerns about the effect of the deal on small producers and employment. The appeals court decision effectively put an end to the legal challenges to the merger.
Below is the group's largest shareholders as at December 2016:
References
External links
- Official website
Source of article : Wikipedia
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