Industry Retail Number of locations 412 (31 January 2017) | Founded 1990 Number of employees 45,000 | |
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CEO Guy R. C. Hayward (1 Jun 2014–) Stock price MSM (JSE) 14,980.00 ZAC +149.00 (+1.00%)14 Mar, 5:00 PM GMT+2 - Disclaimer Parent organizations Walmart, Main Street 830 (Pty) Ltd Profiles | ||
Kenya s naivas calls off takeover talks with sa s massmart holdings
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 2017, Massmart operated 412 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.
Contents
- Kenya s naivas calls off takeover talks with sa s massmart holdings
- Massmart s ceo shares most memorable moments
- History
- Divisions
- Walmart acquisition
- References
Massmart s ceo shares most memorable moments
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:
Divisions
Massmart's stores are organized into 4 divisions. The stores included in each division are as follows:
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.