Massmart Holdings Limited 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.[4] As of 31 October 2022, Massmart operated 411 stores in South Africa and 12 other Sub-Saharan countries.[5] Its head offices are in the Massmart House in Sandton, Johannesburg.[6]
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:
378 Shield members in March 1992
20 Dion stores in May 1993
14 CCW stores in June 1998
26 Game stores in July 1998
6 Jumbo stores in April 2001
22 Browns and Weirs stores in July 2002
8 Builders Warehouse stores in February 2003
3 De Lay Rey stores, 14 Servistar stores, and 34 Federated Timber stores in June 2005
6 Cambridge Food stores in December 2008
3 Buildrite stores in June 2009
Fruitspot (wholesaler of fresh fruits and vegetables) was acquired in January 2012
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, Lesotho, Malawi, Mozambique, Namibia, Nigeria, Tanzania, Uganda, Zambia and Kenya - beginning May 2015[7])
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, Zambia 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 Eswatini)
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 Eswatini)
Walmart acquisitionedit
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).[8][9] On 18 January 2011, Massmart shareholders voted in favour of Walmart's offer of R148 per share.[9] The South African Competition Commission Tribunal gave its approval of the acquisition of 51% of the firm in May 2011.[10] Shortly thereafter, in June 2011, Walmart completed the purchase of 51% of the company's stock.[11]
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.[12]
Major shareholdersedit
Below is the group's largest shareholders as at December 2016:[3]: 25
^"Stores Close Across South Africa as Violent Riots Intensify". Bloomberg.com. 12 July 2021. Retrieved 23 April 2022.
^"Nairobi's Garden City Mall To Open Doors in May". Business Daily Africa (Nairobi). 12 February 2015. Retrieved 12 February 2015.
^Smith, Nicky (29 November 2010). "Wal-Mart Offers 16.5 Billion Rand for 51% of Massmart". Bloomberg News. Retrieved 12 February 2015.
^ ab"South African Retailer Massmart Backs Sale To Wal-Mart". BBC News. 17 January 2011. Retrieved 12 February 2015.
^"Wal-Mart Cleared To Buy South Africa's Massmart". BBC News. 31 May 2011. Retrieved 12 February 2015.
^"Wal-Mart Takes on Africa With Massmart". Forbes.com. 10 June 2011. Retrieved 12 February 2015.
^Tiisetso Motsoeneng, and Wendell Roelf (9 March 2012). "Wal-Mart Wins Final Go-Ahead for Massmart Deal". Reuters. Retrieved 12 February 2015.
External linksedit
Official website
February 15, 2024
massmart, holdings, limited, south, african, firm, that, owns, local, brands, such, game, makro, builder, warehouse, second, largest, distributor, consumer, goods, africa, largest, retailer, general, merchandise, liquor, home, improvement, equipment, wholesale. Massmart Holdings Limited 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 4 As of 31 October 2022 Massmart operated 411 stores in South Africa and 12 other Sub Saharan countries 5 Its head offices are in the Massmart House in Sandton Johannesburg 6 Massmart Holdings LimitedCompany typePublic SubsidiaryTraded asJSE MSMIndustryRetailFounded1990 34 years ago 1990 FounderMark Lamberti 1 HeadquartersSandton South AfricaNumber of locations411 31 October 2022 2 Area servedSub Saharan AfricaProductsFood Liquor General merchandise Home ImprovementRevenueR91 564 billion 2016 3 40 Operating incomeR2 603 billion 2016 3 40 Net incomeR1 322 billion 2016 3 40 Total assetsR31 883 billion 2016 3 43 Total equityR6 183 billion 2016 3 43 Number of employees45 000 2015 ParentWalmart 2011 present DivisionsMassdiscounters Masswarehouse Masscash MassmartSubsidiariesMakroGameBuilder s Superstores CBWWebsitewww wbr massmart wbr co wbr za Contents 1 History 2 Divisions 3 Walmart acquisition 4 Major shareholders 5 References 6 External linksHistory editMassmart 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 378 Shield members in March 1992 20 Dion stores in May 1993 14 CCW stores in June 1998 26 Game stores in July 1998 6 Jumbo stores in April 2001 22 Browns and Weirs stores in July 2002 8 Builders Warehouse stores in February 2003 3 De Lay Rey stores 14 Servistar stores and 34 Federated Timber stores in June 2005 6 Cambridge Food stores in December 2008 3 Buildrite stores in June 2009 Fruitspot wholesaler of fresh fruits and vegetables was acquired in January 2012 Rhino Cash amp Carry Group in March 2012Divisions edit nbsp A Makro store in Milnerton Cape Town 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 Lesotho Malawi Mozambique Namibia Nigeria Tanzania Uganda Zambia and Kenya beginning May 2015 7 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 Zambia 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 Eswatini 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 Eswatini Walmart acquisition editIn 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 8 9 On 18 January 2011 Massmart shareholders voted in favour of Walmart s offer of R148 per share 9 The South African Competition Commission Tribunal gave its approval of the acquisition of 51 of the firm in May 2011 10 Shortly thereafter in June 2011 Walmart completed the purchase of 51 of the company s stock 11 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 12 Major shareholders editBelow is the group s largest shareholders as at December 2016 3 25 Majority shareholders December 2016 Walmart 52 4Aberdeen Asset Management PLC 21 3Public Investment Corporation SA 5 6Others 20 7References edit Imperial taps Massmart founder as CEO Fin24 com Reuters 20 February 2014 Retrieved 7 August 2019 South Africa at a glance stock walmart com Archived from the original on 2 June 2021 Retrieved 1 June 2021 a b c d e f Massmart Annual Results 2016 PDF 31 December 2016 Retrieved 22 January 2018 Overview of Massmart Massmart co za 2014 Retrieved 12 February 2015 Walmart Investor Relations Financials Investor Relations gt Financials stock walmart com Retrieved 15 November 2022 Stores Close Across South Africa as Violent Riots Intensify Bloomberg com 12 July 2021 Retrieved 23 April 2022 Nairobi s Garden City Mall To Open Doors in May Business Daily Africa Nairobi 12 February 2015 Retrieved 12 February 2015 Smith Nicky 29 November 2010 Wal Mart Offers 16 5 Billion Rand for 51 of Massmart Bloomberg News Retrieved 12 February 2015 a b South African Retailer Massmart Backs Sale To Wal Mart BBC News 17 January 2011 Retrieved 12 February 2015 Wal Mart Cleared To Buy South Africa s Massmart BBC News 31 May 2011 Retrieved 12 February 2015 Wal Mart Takes on Africa With Massmart Forbes com 10 June 2011 Retrieved 12 February 2015 Tiisetso Motsoeneng and Wendell Roelf 9 March 2012 Wal Mart Wins Final Go Ahead for Massmart Deal Reuters Retrieved 12 February 2015 External links editOfficial website Retrieved from https en wikipedia org w index php title Massmart amp oldid 1196412451, wikipedia, wiki, book, books, library,
