The commission has recommended the Competition Tribunal approve the R1.36bn deal that forms part of the retailer's turnaround
The Competition Commission has recommended the Competition Tribunal approve the R1.36bn deal that forms part of Massmart’s turnaroundThe deal would see Shoprite 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 from Massmart. Picture: 123RF/FASCINADORA
The recommendation that the tribunal approves the transaction does come with conditions, Massmart said in a statement on Friday. The retailer did not go into detail, but such conditions often include commitments to avoid retrenchments.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.
The purchase, if approved, will give Shoprite access to 43 liquor stores, saving it the onerous and time-consuming task of applying for new liquor licences.The Shoprite group owns 642 alcohol stores, under the OK, Checkers and Shoprite brands and a total of 1,543 grocery stores in SA. Slape has shut down tech chain Dion Wired, merged four company units into two, outsourced software support to a Walmart centre in India, and accelerated investment into e-commerce.
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