South Africa: Massmart on the acquisition trail
South African retail chain Massmart has announced it plans to purchase 100% of Johannesburg-based fresh produce supplier The Fruitspot, website Businessday.co.za reported.
The Fruitspot supplies produce to businesses including Spar, Friendly Grocer, Famous Brands and Boxer.
"Massmart can confirm that an application relating to the potential acquisition of Fruitspot by Massmart was lodged with the Competition Commission today," Massmart spokesperson Brian Leroni was quoted as saying.
The story reported Massmart's sales grew 11.7% in the year to June.