South Africa: Massmart on the acquisition trail - FreshFruitPortal.com

South Africa: Massmart on the acquisition trail

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South Africa: Massmart on the acquisition trail

Less than two months after the South African Competition Tribunal approved Walmart's acquisition of Massmart, the former takeover target has expansion in its sights.

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.

Photo: Atacmag

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